NOVA Chemicals Corporation has extended its force majeure (FM) on ethylene, propylene, crude C4s and other co-products from its Corunna, Ontario, manufacturing facility and on polyethylene from its Sarnia, manufacturing sites.
Problems with the newly installed compressor trains have further delayed the re-start of NOVA Chemicals' Corunna ethylene flexi-cracker, extending the force majeure. NOVA Chemicals continues to work with all impacted customers during this delay. Full operations are now expected in mid- to late December 2005.
NOVA expects Q4-2005 results tol be negatively impacted by an additional US$20-$30 million as a result of this delay, in addition to the previously announced delay impact estimate of US$10-$15 million. The revised total negative earnings impact of the shutdown is currently estimated to be approximately US$60-$70 million of Net Income in Q4-2005.
02-Dec-05 
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