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Markets :: Plastics :: Polyethylene

Nova Chemicals reports earnings gain in second quarter

8:27 AM MDT | August 2, 2013 | Lindsay Frost

Nova Chemicals today reported its second quarter results—with earnings up 8%, to $201 million due to lower finance costs, the company says. Increased profit was also due to increased operating profit in the Corunna olefins and polyethylene segments, partially offset by lower operating profit in the Joffre olefins segment. Sales of $1.37 billion fell 2% year-over-year (YOY). The company’s olefins/polyolefins busniess unit—which consists of Corunna olefins, Joffre olefins and polyethylene—recorded $328 million of operating profit, down 3%...

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