NOVA Chemicals Surpasses 65% Completion of its Growth Projects in Ontario, Targets 2022 Start-Up
Canadian innovation brings new premium-value, polyethylene resins for recyclable packaging to North American and global markets; The combined projects represent an investment of approximately $2.5 billion (CAD) in the community; Early equipment has been put in service; start-up will commence in late 2022
Sarnia, Ontario, April 12, 2021 (GLOBE NEWSWIRE) -- NOVA Chemicals Corporation, 1000 Seventh Avenue S.W., Calgary, Alberta, Canada T2P 5L5
www.novachemicals.com | 403.750.3600 tel | 403.269.7410 fax
NOVA Chemicals Corporation (“NOVA Chemicals”) today announced its second Advanced SCLAIRTECH™ technology (AST) unit and the third phase of the Corunna Cracker Expansion Project have each safely surpassed 65% completion. The first of eight electrical substations were safely energized in March, and the company estimates that both projects will commence full start-up activities in late 2022, after the Corunna Site turnaround which is targeted for spring 2022.
The new AST polyethylene unit, located at the new Rokeby Site in St. Clair Township, Ontario, will have a capacity of approximately one billion pounds per year. The cracker expansion will provide ethylene feedstock to the new AST facility, expanding the existing unit’s current capacity by more than 50 percent.
“We’re proud to bring Canadian ingenuity to the North American and global marketplace, especially as the plastics and chemicals landscape evolves around the world,” stated Luis Sierra, NOVA Chemicals’ president and CEO. “NOVA Chemicals will continue to be an innovator in developing a circular economy for plastics, which includes reducing plastic waste in our environment, by bringing new, premium-value plastics that support sustainable packaging solutions to the marketplace.”
Sierra continued, “The COVID-19 pandemic and the severe cold weather in February on the U.S. Gulf Coast have reminded us how NOVA’s products and geographic locations can provide our customers with security of supply and more choices. Our new octene copolymer AST facility will increase the volume of differentiated high-performance resins, provide our customers with supply assurance and introduce an expanded product slate designed to meet the increasing demand for easy to recycle products that help shape a better world.”
The combined investment of approximately $2.5 billion (CAD) brings cutting edge technology, high-paying jobs, and long-term viability to the region. Since the growth projects began in late 2017, NOVA Chemicals has added approximately $1.1 billion (CAD) to the provincial economy in labour and materials.
NOVA Chemicals is proud to be the largest private employer in the Sarnia-Lambton region. Currently there are nearly 1,800 workers onsite, representing more than four million hours worked since the project started. An estimated 150 permanent fulltime jobs will be created to operate and maintain the facilities.
“We are grateful for the resiliency and ongoing commitment of our employees, project team, contractors, and their families who are working to grow our business and shape the future of our Sarnia-Lambton community for generations to come. This workforce is building history right before us,” said Rob Thompson, Vice President of Manufacturing, NOVA Chemicals. “During unprecedented conditions everyone involved has worked diligently, adhering to strict government mandated COVID-19 protocols, to safely progress work on these two significant manufacturing projects.”
NOVA Chemicals develops and manufactures chemicals and plastic resins for applications such as food packaging, caps & closures and e-commerce packaging that make everyday life safer, healthier and easier. Currently, there are three manufacturing facilities and one corporate office in the Sarnia-Lambton region. The Corunna Site produces 1.8 billion pounds of ethylene and about 250 million pounds of co-products annually. Corunna provides feedstock to the Moore Site and St. Clair River Sites, which convert the ethylene into 1.38 billion pounds of polyethylene. Ethane, a component of natural gas, is the primary feedstock for ethylene production at Corunna Site.
Editors and reporters: Download digital images, b-roll and a fact sheet from our electronic media kit.
About NOVA Chemicals
NOVA Chemicals develops and manufactures chemicals and plastic resins that make everyday life safer, healthier and easier. Our employees work to ensure health, safety, security and environmental stewardship through our commitment to sustainability and Responsible Care®. NOVA Chemicals, headquartered in Calgary, Alberta, Canada, is wholly-owned, ultimately by Mubadala Investment Company of the Emirate of Abu Dhabi, United Arab Emirates. www.novachem.com
For further information, please contact:
Director, Corporate Communications
Financial Reporting & Investor Relations Manager
NOVA Chemicals’ logo is a registered trademark of NOVA Brands Ltd.; authorized use.
Advanced SCLAIRTECH™ is a trademark of NOVA Chemicals.
Responsible Care® is a registered trademark of the Chemistry Industry Association of Canada.
This news release contains forward-looking statements. By their nature, forward-looking statements require NOVA Chemicals to make assumptions and are subject to inherent risks and uncertainties. NOVA Chemicals’ forward-looking statements are expressly qualified in their entirety by this cautionary statement. In addition, the forward-looking statements are made only as of the date of this news release, and except as required by applicable law, NOVA Chemicals undertakes no obligation to update the forward-looking statements to reflect new information, subsequent events or otherwise.
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
Marimekko and UNIQLO announce a new spearhead collaboration collection celebrating summer6.5.2021 09:00:00 CEST | Press release
Marimekko Corporation, Press release, 6 May 2021 at 10.00 a.m. Marimekko and UNIQLO, a Japanese global apparel retailer, are happy to announce a new limited edition capsule collection for Spring/Summer 2021. The UNIQLO x Marimekko collection, celebrating midsummer traditions, represents one of the spearhead collaborations for UNIQLO in 2021, and will be available from 19 May onward. The new capsule is inspired by the joy and optimism of Nordic midsummer. The collection features dresses and other timeless wardrobe staples as well as accessories for women and children in iconic, summery Marimekko patterns by Fujiwo Ishimoto, Maija Isola, Maija Louekari and Annika Rimala. Following the success of the earlier limited edition UNIQLO x Marimekko collaborations, the capsule combines Marimekko’s colorful and cheerful prints with UNIQLO’s high-quality, functional and accessible LifeWear made for all. The collection will be available in all UNIQLO markets except Japan, Indonesia, and India. Most
Van Lanschot Kempen completes share buy-back programme6.5.2021 08:30:00 CEST | Press release
Amsterdam/’s-Hertogenbosch, the Netherlands, 6 May 2020 Van Lanschot Kempen today announced that it has successfully completed its share buy-back programme. In the last period, between 4 May 2021 and 5 May 2021, Van Lanschot Kempen repurchased 17,700 of its own shares (depositary receipts for Class A ordinary shares) at an average price of €24.21 per share for a total amount of €428,567. A total of 400,000 shares have been repurchased under the programme at an average price of €23.63 per share, representing a total amount of €9,451,734. The programme was announced on 25 February 2021. The repurchased shares will be used to cover the depositary receipts to be allocated to employees under existing remuneration policies and share plans. More information, including a detailed overview of all repurchase transactions under this programme, is available at www.vanlanschotkempen.com/sharebuyback. Media Relations: +31 20 354 45 85; email@example.com Investor Relations: +31 20
HOYLU AB: NUMBER OF USERS INCREASED 9% IN APRIL6.5.2021 08:30:00 CEST | Press release
Stockholm, Sweden, May 6, 2021 – Hoylu, a leader in visual collaboration solutions for distributed teams, today announced user numbers and Annual Recurring Revenue (“ARR)” as of the end of April 2021. The report for April 2021 is attached to this press release and is available on Hoylu's web site: (https://www.hoylu.com/investor-relations/financial-reports/). For more information, please contact: Stein Revelsby, CEO at Hoylu +1 213 440 2499 Email: firstname.lastname@example.org Karl Wiersholm, CFO at Hoylu +1 425 829 2316 Email: email@example.com About Hoylu Hoylu’s mission is to empower distributed teams to collaborate easily and seamlessly while always staying in sync. Hoylu’s Connected Workspaces™ helps enterprises as well as small and medium companies run projects, programs, and initiatives across time zones and continents with the same level of engagement and clarity as if everyone were working in the same room. For more information: www.hoylu.com Try Hoylu for free: https://www.hoylu.com/signup/ Ticker
HOYLU AB: ANTAL ANVÄNDARE ÖKADE MED 9% I APRIL6.5.2021 08:30:00 CEST | Pressemelding
Stockholm, Sverige, 6 maj 2021 – Hoylu, ledande inom visuella samarbetslösningar för distribuerade team, presenterade idag antal användare och Årliga återkommande intäkter (ARR) från och med slutet av april 2021. Rapporten för april 2021 bifogas detta pressmeddelande och finns tillgänglig på bolagets hemsida: (https://www.hoylu.com/investor-relations/financial-reports/). För mer information kontakta: Stein Revelsby, CEO at Hoylu +1 213 440 2499 Email: firstname.lastname@example.org Karl Wiersholm, CFO at Hoylu +1 425 829 2316 Email: email@example.com Om Hoylu Hoylus uppdrag är att ge distribuerade team möjlighet att samarbeta enkelt och sömlöst samtidigt som de alltid håller sig synkroniserade. Hoylus Connected Workspaces™ hjälper företag såväl stora som små att driva projekt, program och initiativ över olika tidszoner och kontinenter med samma engagemang och tydlighet som om alla arbetade i samma rum. För mer information: www.hoylu.com Testa Hoylu gratis: https://www.hoylu.com/signup/ Kortnamn: Hoylu Markna
Statkraft AS: Result for the first quarter6.5.2021 08:00:00 CEST | Press release
Record-high operating result (Oslo, 6 May 2021) Higher power prices and increasedgeneration resulted in a record-high underlying operating result. Statkraft continued to deliver on its strategy and initiated new renewable projects in the quarter. The underlying EBIT was NOK 7.2 billion in the quarter, an increase of NOK 3.1 billion from the first quarter last year. “The underlying operating result was the best ever achieved in a single quarter, following higher Nordic power prices and successful energy management”, says CEO Christian Rynning-Tønnesen. The average Nordic system price was 42.3 EUR/MWh, an increase of 26.9 EUR compared with the low price in the first quarter of 2020. Total power generation increased by 16 per cent to 20.6 TWh. A strengthening of NOK against EUR had a positive effect on net financial items, which ended at NOK 1.5 billion. Net profit was NOK 4.8 billion, an increase of NOK 6.7 billion compared with the result in the first quarter last year. Cash flow from o
Bayport Management Limited Appointment of Board Chairperson6.5.2021 08:00:00 CEST | Press release
APPOINTMENT OF BOARD CHAIRPERSON The Board of Bayport Management Ltd (“BML” or the “Company”) wishes to apprise its shareholders and the general public that Nicholas Haag has been appointed as the Chairperson of the Board of the Company, from April 2021. Mr. Haag has served as an Independent Non-Executive Director of the Company since 2016. Mr. Haag has had a 30- year career in the finance industry with various institutions including Barclays, ABN AMRO and the Royal Bank of Scotland. Most recently, Mr. Haag was a member of the Boards of TBC Bank Group PLC and Citadele Bank Group. Mr. Haag holds a First-Class Honours Degree from the University of Oxford. By order of the Board 6 May 2021 For additional information, please contact: David Rajak Investor Relations Executive (firstname.lastname@example.org / +27 11 236 7300) This information is information that Bayport Management Ltd is obliged to make public in accordance with the EU Market Abuse Regulation. The information was submitted for p
Statkraft AS: Resultat for første kvartal6.5.2021 08:00:00 CEST | Pressemelding
Rekordhøyt driftsresultat (Oslo, 6.mai 2021) Høyere kraftpriser og -produksjon ga Statkraft et rekordhøyt underliggende driftsresultat. Statkraft fortsetter å levere på strategien, og initierte flere nye fornybarprosjekter i kvartalet. Underliggende driftsresultat var 7,2 milliarder kroner i kvartalet, en forbedring på 3,1 milliarder kroner sammenlignet med samme kvartal i fjor. - Det underliggende driftsresultatet er det beste i et enkeltstående kvartal noensinne og er et resultat av høyere nordiske kraftpriser og vellykket energidisponering, sier konsernsjef Christian Rynning-Tønnesen. Den gjennomsnittlige nordiske systemprisen var 42,3 EUR/MWh. Det er en økning på 26,9 EUR/MWh sammenlignet med de lave prisene i første kvartal 2020. Samlet kraftproduksjon var 20,6 TWh, en økning på 16 prosent. En styrking av norske kroner mot euro hadde en positiv effekt på netto finansposter som endte på 1,5 milliarder kroner. Resultat etter skatt endte på 4,8 milliarder kroner, en forbedring på 6,7