Business
NOVA Chemicals Expects Strengthening Performance in 2007
NOVA Chemicals Expects Strengthening Performance in 2007.
About this update from Northisle Copper And Gold Inc.
[{"type":"text","content":"\n\n\n\nCALGARY, ALBERTA, April 12 /CNW/ - NOVA Chemicals' (NYSE:NCX)(TSX:NCX)\nPresident and Chief Executive Officer, Jeffrey M. Lipton, today described\nrapid improvement in NOVA Chemicals' business in 2007 after reporting year-end\nresults for 2006. Speaking at the company's annual shareholder meeting, Lipton\ndiscussed the company's restructuring during the past year and its positive\nbusiness outlook.\n\n\n"Results in March of this year improved dramatically after we worked\nthrough inventory-related softness in January and February, and we expect the\nsecond quarter to be just as strong," said Lipton. "With growing demand and\ncontinuing delays in new capacity additions, we believe ethylene and\npolyethylene market conditions can remain strong through 2011."\n\n\nIn other agenda items at the annual meeting, the shareholders:\n\n\n-- elected the following directors, all of whom were previously serving\nas directors, for a one-year term: Jerald A. Blumberg, F. Peter Boer, Jacques\nBougie, Joanne V. Creighton, Robert E. Dineen, Jr., L. Yves Fortier, Kerry L.\nHawkins, Jeffrey M. Lipton, Arnold M. Ludwick, Christopher D. Pappas, and\nJames M. Stanford.\n\n\n-- approved the reappointment of Ernst & Young LLP as auditors of the\ncompany.\n\n\n-- approved amendments to the company's stock option plan.\n\n\nNOVA Chemicals produces plastics and chemicals that are essential to\neveryday life. Our employees develop and manufacture materials for customers\nworldwide that produce consumer, industrial and packaging products. We work\nwith a commitment to Responsible Care(R) to ensure effective health, safety,\nsecurity and environmental stewardship. Company shares are traded on the\nToronto and New York stock exchanges as NCX.\n\n\nVisit NOVA Chemicals on the Internet at www.novachemicals.com.\n\n\nForward-Looking Information\n\n\nThe information in this news release contains forward-looking statements,\nincluding statements regarding NOVA Chemicals' expectation of strengthening\nperformance in 2007; NOVA Chemicals' positive business outlook; NOVA\nChemicals' beliefs concerning rapid improvement in 2007; NOVA Chemicals'\nexpectation that the second quarter will be strong for its business; and NOVA\nChemicals' belief that ethylene and polyethylene market conditions can remain\nstrong through 2011. By their nature,...