Profit, revenues slide at Nova Chemicals

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Nova Chemicals said first-quarter profit slipped by 1.6 percent mainly because of finance costs associated with paying down its debt.

Profit was $185 million, down from $188 million in the first quarter of 2012.

Revenues for the producer of plastics resins and chemicals fell slightly to $1.25 billion from $1.34 billion a year ago.

Nova, based in Calgary, Canada, has an executive operations center in Moon and a plant in Monaca, Beaver County. The company is owned by International Petroleum Investment Co. of the United Arab Emirates.

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Joyce Gannon: or 412-263-1580.


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