RE: Bought SomeThe start-up of Corunna will help Nova but I don't expect it to make a difference on earnings till the 3rd quarter. That is, if all goes well with operations.
Nova Chemicals restarts Corunna, Ont., plant; expects charge up to US$25M
January 31, 2006 - 11:55
PITTSBURGH (CP) - Nova Chemicals Corp. (TSX:NCX) said Tuesday its ethylene plant in Corunna, Ont., has returned to normal operations after a shutdown that will reduce first-quarter profit by up to $25 million US.
The company, which originated in Canada but now has its headquarters in Pittsburgh, said its Corunna ethylene flexi-cracker resumed production Jan. 24 and its polyethylene plant in Sarnia, Ont., is returning to normal.
The negative impact to net income is expected to be between $20 million and $25 million US in the first quarter of 2006.