Nova Chemicals Corp. said profit in the second quarter fell 17 percent because of lower margins in its Canadian operations that make plastics used in consumer and industrial packaging.
Profit was $167 million, down from $201 million in the second quarter a year ago. Sales for the quarter dropped by nearly 6 percent, to $1.29 billion from $1.37 billion last year.
Nova, based in Calgary, Canada, has about 200 employees at its executive offices in Moon and 200 employees at a plant in Monaca, Beaver County.
The company said that in June its Alberta, Canada, plant began using ethane from natural gas produced in the Bakken Shale region in North Dakota.
oyce Gannon: firstname.lastname@example.org or 412-263-1580. First Published August 12, 2014 12:00 AM