Markets :: Plastics :: Polyethylene
Nova Profits Boosted by Strong Sales and Selling Prices
8:08 AM MDT | May 26, 2011 | Lindsey Bewley
Nova Chemicals reported first-quarter net income of $163 million, up 69% from the year-ago quarter, on stronger sales volumes and higher selling prices. Operating income in the company’s olefins and polyolefins segment was $282 million, up 52% from the first quarter of 2010, on higher sales volumes and selling prices that increased more than feedstock costs. Nova’s performance styrenics business posted operating income tripled, to $3 million, on higher sales volumes and lower fixed costs, the company says. The company announced...
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