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NOVA Chemicals improves net income in Q1 2010

May 28/2010

(NOVA) -- In the first quarter of 2010, NOVA Chemicals generated net income of $94 million as compared to a net loss of $123 million for the first quarter of 2009 and net income of $17 million in the fourth quarter of 2009 as margins and demand for products improved.

 

The Olefins/Polyolefins business unit generated $185 million of operating income in the first quarter of 2010 versus an operating loss of $38 million during the first quarter of 2009. The year-over-year improvement was due to higher sales volumes and selling prices that increased more than feedstock costs.

 

The INEOS NOVA joint venture operating income improved from breakeven in the first quarter of 2009 to operating income of $16 million in the first quarter of 2010.

 

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NOVA Chemicals improves net income in Q1 2010

 

 

 

 

 

 

 

 

 

 

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