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NOVA Chemicals Plans to Temporarily Idle Styrene Plant Due to U.S. Gulf Coast Ethylene Shortage
NOVA Chemicals Plans to Temporarily Idle Styrene Plant Due to U.S. Gulf Coast Ethylene Shortage.
About this update from Northisle Copper And Gold Inc.
[{"type":"text","content":"\n\n\n\n\nPITTSBURGH, May 2 /CNW/ - NOVA Chemicals Corporation (NYSE:NCX)(TSX:NCX)\ntoday announced plans to temporarily idle its Bayport, Texas, styrene monomer\nplant as a result of the ethylene force majeure declared by Huntsman\nCorporation and limited ethylene availability on the U.S. Gulf Coast. Through\nits Sarnia, Ontario styrene monomer production and other supply arrangements,\nthe company expects to be able to meet its market obligations for both styrene\nmonomer and styrenic polymers.\nThe financial impact of the outage is expected to be limited to\nrelatively minor shutdown and startup costs.\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. NOVA\nChemicals works with a commitment to Responsible Care(R) to ensure effective\nhealth, safety, security and environmental stewardship. Company shares are\ntraded on the Toronto and New York stock exchanges as NCX. Visit NOVA\nChemicals on the Internet at www.novachem.com.\n\nForward-Looking Information\n\nThe information in this news release contains forward-looking statements,\nincluding the statements that NOVA Chemicals expects to be able to meet its\nmarket obligations for both styrene monomer and styrenic polymers and that the\nfinancial impact of the outage at NOVA Chemicals' Bayport facility is expected\nto be limited to relatively minor shutdown and startup costs. By their nature,\nforward-looking statements require NOVA Chemicals to make assumptions and are\nsubject to inherent risks and uncertainties. There is significant risk that\npredictions, forecasts, conclusions and projections will not prove to be\naccurate, that NOVA Chemicals' assumptions may not be correct and that actual\nresults may differ materially from such predictions, forecasts, conclusions or\nprojections. Some of the risks that could affect NOVA Chemicals' future\nresults and could cause results to differ materially from those expressed in\nthe forward-looking statements include: uncertainties regarding commodity\nchemicals price levels (which depend, among other things, on supply and demand\nfor these products, capacity utilization and substitution rates between these\nproducts and competing products); feedstock availability and p...