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Chemical Week Magazine :: Cover Story
IPIC makes its Billion-Dollar Club Debut
10:02 AM MDT | September 9, 2011 | â€”kerri walsh
International Petroleum Investment Co. (IPIC; Abu Dhabi) has joined CWâ€™s Billion-Dollar Club this year. IPIC has a base chemicals portfolio that includes Borealis and the former Nova Chemicals, and makes its first appearance at number 24 in the table. IPIC reported 2010 chemical sales of $12.9 billion and operating income of $705 million. Nova was acquired in 2009, in a deal that valued the company at about $2.6 billion. Nova is IPICâ€™s first fully owned subsidiary. The company can be divided into two businesses: olefins and polyolefins; and performance...
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