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Nova Reports Strong First Quarter; Sarnia Cracker to Run at Full Rates by 2013

11:23 AM MDT | May 31, 2011 | —LINDSEY BEWLEY

Woelfel: Feedstock deals will benefit operating rates. 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...

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