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Nova Chemicals reports second quarter results

August 25/2010

(BUSINESS WIRE) -- In the second quarter of 2010, NOVA Chemicals generated net income of $51 million compared to a net loss of $83 million for the second quarter of 2009. For the six months ended June 30, 2010, we generated net income of $145 million versus a net loss of $206 million for the six months ended June 30, 2009. The year-over-year improvement during these three month and six month periods was primarily due to higher margins and demand for our products.

 

The Olefins/Polyolefins business unit generated $251 million of operating income in the second quarter of 2010 compared to operating income of $81 million during the second quarter of 2009. For the six months ended June 30, 2010, the business unit generated operating income of $437 million compared to operating income of $43 million for the six months ended June 30, 2009. The improvement in both comparisons was due to selling prices increasing more than feedstock costs, and improved demand.

 

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Nova Chemicals reports second quarter results

 

 

 

 

 

 

 

 

 

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