NOVA Chemicals growing strength in 2008

2008-04-10 Manufacturing News

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Despite the uncertanties of the economy in the United States, Nova Chemicals announces record performance for the company in 2007 and positive outlook for 2008 and beyond.

NOVA Chemicals Chief Executive Officer, Jeffrey M. Lipton today described record performance for the company in 2007 and a positive outlook for 2008 and beyond. Speaking at the company's annual shareholder meeting in Toronto, Lipton discussed the outlook for NOVA Chemicals.

"NOVA Chemicals' results in 2007 were outstanding and proved that we are able to outperform, even in a high-cost crude oil environment," said Lipton. "Looking forward, I believe the core of our business will be strong into 2009, despite concerns about the U.S. economy."

Also at the annual meeting, the shareholders elected the following directors, all of whom were previously serving as directors, for a one-year term: Jerald. A. Blumberg, F. Peter Boer, Jacques Bougie, Joanne V. Creighton, Robert E. Dineen Jr., L. Yves Fortier, Kerry L. Hawkins, Jeffrey M. Lipton, Arnold M. Ludwick, Christopher D. Pappas and James M. Stanford.

Shareholders also approved the reappointment of Ernst & Young LLP as auditors of the company.

NOVA Chemicals produces plastics and chemicals that are essential to everyday life. Our employees develop and manufacture materials for customers worldwide that produce consumer, industrial and packaging products. NOVA Chemicals works with a commitment to Responsible Care to ensure effective health, safety, security and environmental stewardship. Company shares are traded on the Toronto and New York stock exchanges as NCX.

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