;
Home / Knowledge / News / Textiles / Polyethylene sales drive excellent operating results for Nova
Polyethylene sales drive excellent operating results for Nova
26
Apr '08
“NOVA Chemicals' businesses have delivered almost $1.1 billion of EBITDA for the last four quarters, principally as a result of our continuing record Alberta Advantage and increasing polyethylene sales,” said Jeff Lipton, NOVA Chemicals' CEO.

“We see very positive supply/demand balances going forward, and good prospects for strong ongoing financial performance in our core ethylene and polyethylene business.”

The Olefins/Polyolefins business unit reported adjusted EBITDA of $246 million in the first quarter of 2008, the highest first quarter in history and significantly higher than the $159 million in the first quarter last year.

The year-over-year improvement was due to higher margins, driven by a record first quarter Alberta Advantage, and record polyethylene sales.

Results improved significantly despite higher fixed costs due to a stronger Canadian dollar, which averaged parity with the U.S. dollar in the first quarter of 2008 as compared to $0.86 in the first quarter of 2007.

Adjusted EBITDA of $246 million was down from a record $308 million in the fourth quarter of 2007. Margins from the Alberta based ethylene and polyethylene assets remained strong but were lower than the fourth quarter due to higher natural gas costs.

Margins from the Ontario based ethylene and polyethylene assets were lower than the fourth quarter of 2007 due to higher crude oil flow-through costs that outpaced price increases in energy and chemical co-products, and ethylene.

Clcik here to view more:

NOVA Chemicals


Must ReadView All

NCTO endorses USMCA; to lobby Congress to adopt agreement

Textiles | On 13th Dec 2018

NCTO endorses USMCA; to lobby Congress to adopt agreement

The National Council of Textile Organisations (NCTO) board of...

12 Asian garment firms to operate in Haiti by mid-2019

Apparel/Garments | On 13th Dec 2018

12 Asian garment firms to operate in Haiti by mid-2019

At least a dozen Asian garment manufacturing companies will start...

Pakistan evolving export-oriented policies: top official

Textiles | On 13th Dec 2018

Pakistan evolving export-oriented policies: top official

Pakistan is evolving export-oriented policies and is committed to...

Interviews View All

Karan Toshniwal, Orange O Tec

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Vasanth Kumar, Max Fashion India

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Amrit Sethia, SOIE

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Hardik Sanghvi,

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Sarah Perkins,

Sarah Perkins

Fairfax, Virginia-based Specialty Graphic Imaging Association (SGIA) is a...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


December 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search