Company Overview of NOVA Chemicals Corporation
NOVA Chemicals Corporation produces and sells plastics and chemicals in the United States, Canada, Europe, and other countries. It offers polyethylene and styrenic polymer resins for a range of applications, such as rigid and flexible packaging, containers, plastic bags, plastic pipes, consumer electronics, building and construction materials, housewares, and other industrial and consumer goods; and ethylene to manufacture various polymers and other chemical products. The company also provides chemical co-products, including propylene, benzene, and butadiene, which are used to make items, such as tires, carpet and clothing fibers, and household goods; and energy co-products comprising gasoli...
1000 Seventh Avenue, S.W.
PO Box 2518
Calgary, AB T2P 5C6
Key Executives for NOVA Chemicals Corporation
Chief Executive Officer, President and Director
Chief Financial Officer and Senior Vice President
Senior Vice President of Operations
Senior Vice President of Polyethylene Business
Senior Vice President of Olefins and Feedstock
Compensation as of Fiscal Year 2017.
NOVA Chemicals Corporation Key Developments
Canadian Federal Court Orders Nova Chemicals to Pay Nearly $500 Million
Jul 7 17
A federal court in Canada has ordered Nova Chemicals to pay nearly $500 million to Dow Chemical in a Canadian patent infringement case. Nova said it would appeal. The case dates to 2005 when Dow sued saying Nova infringed on its patents for polyethylene resins used in food packaging and other applications. Since then, the case has wound its way through a series of appeals, a trial, and related actions, including Nova filing fraud charges against Dow. Those charges were eventually thrown out. A federal court in Canada that found Nova's patent infringed provided Dow with a choice of remedies. The company elected to receive compensation based on profits that Nova generated from the products containing the resins. The court determined that Nova had received an estimated CAD 1 billion ($771 million) in sales from its product, known as Surpass. Dow sells a similar product under the brand name Elite.
Nova Chemical Presents at 34th Annual Medical Design and Manufacturing East Conference, Jun-14-2017 11:00 AM
Jun 10 17
Nova Chemical Presents at 34th Annual Medical Design and Manufacturing East Conference, Jun-14-2017 11:00 AM. Venue: Jacob K. Javits Center, New York, United States. Speakers: Jonathan Quinn.
Nova Chemicals Corporation Announces Pricing of Private Offering of $ 2.1 Billion of Senior Notes
May 26 17
NOVA Chemicals Corporation announced the pricing of the previously announced private offering of $1,050 million of senior notes due 2024 and $1,050 million of senior notes due 2027. The 2024 notes will have an interest rate of 4.875% per annum and the 2027 notes will have an interest rate of 5.250% per annum. The senior notes are being issued at a price of 100% of their face value. The closing of the offering of the senior notes is expected to occur on June 9, 2017, subject to customary closing conditions. The Company plans to use the net proceeds of the offering and cash on hand to fund its previously announced acquisition of Williams Partners L.P.'s 88.46% interest in the Geismar, Louisiana olefins plant, approximately 525 acres of undeveloped land adjacent to the plant, and Williams' interest in the Ethylene Trading Hub in Mt. Belvieu, Texas, and to pay fees and expenses related to the transaction and this offering. Barclays Capital Inc. and HSBC Securities (USA) Inc. acted as joint active bookrunners and TD Securities (USA) LLC, RBC Capital Markets, LLC and Scotia Capital (USA) Inc. acted as joint bookrunners.
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