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Nova Chemicals hires BP veteran as CEO

July 09/2020

MOSCOW (MRC) -- Nova Chemicals (Calgary, Alberta, Canada) says its board of directors has named Luis Sierra president and CEO, effective 1 August, said Chemweek.

He will succeed Todd Karran, who is retiring. Sierra joins Nova from BP, where he spent 30 years, most recently as CEO of the aromatic chemicals business.

Sierra "brings a wealth of knowledge and experience from a strong and successful career with BP, says Musabbeh Al Kaabi, chairman of the board of directors. The board believes that Todds retirement provides the opportunity to introduce new leadership with the external perspective and renewed impetus required to drive the next phase of the companys development."

As MRC reported earlier, in January 2017, NOVA Chemicals announced the start up of its new world-scale linear low density polyethylene (LLDPE) gas phase reactor at its Joffre, Alberta site.

Besides, NOVA Chemicals expanded ethylene production capacity by 20% at its cracker in Corunna, Ontario from the previous capacity of about 839,000 tpy. The expansion occurred between 2014 and 2018 and was part of a wave of expansions and upgrades to NOVA's existing facilities near Sarnia, Ontario. Other upgrades in the plan included a debottlenecking of the Moore low-density polyethylene (LDPE) line and a retrofit of the Moore high-density polyethylene (HDPE) line.

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 721,290 tonnes in the first four month of 2020, up by 4% year on year. Low density polyethylene (LDPE) and linear low density polyethylene (LLDPE) shipments grew partially because of the increased capacity utilisation at ZapSibNeftekhim.

NOVA Chemicals Corporation is a plastics and chemical company headquartered in Calgary, Alberta, Canada, and is wholly-owned ultimately by Mubadala Investment Company of the Emirate of Abu Dhabi, United Arab Emirates.


mrcplast.com
Author:Anna Larionova
Tags:PE, LLDPE, LDPE, HDPE, Nova Chemicals.
Category:General News
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