NOVA Chemicals Corporation
NYSE : NCX
TSX : NCX

NOVA Chemicals Corporation

October 03, 2005 16:14 ET

NOVA Chemicals Reports No Significant Storm Damage to its Bayport, Texas, Facility; Force Majeure Invoked for Styrene Monomer and Some Styrenic Polymers

PITTSBURGH--(CCNMatthews - Oct 3, 2005) -

NOVA Chemicals Corporation (NYSE:NCX)(TSX:NCX) today announced its Bayport, Texas, styrene monomer facility sustained minimal damage as a consequence of Hurricane Rita, which struck the U.S. Gulf Coast on Saturday, September 24, 2005. After a safe shutdown on September 21, 2005, in preparation for the storm, the Bayport facility is currently re-starting. Styrene monomer production at the facility is expected to resume at reduced levels by the end of the week. NOVA Chemicals estimates between 60 and 70 million pounds of styrene monomer production were lost during the outage.

Production rates through year-end for the Bayport facility have not been determined due to uncertainty surrounding raw material supply and logistics. NOVA Chemicals is working closely with its suppliers in efforts to resolve these issues. In order to ensure fair and reasonable allocation of products to customers, NOVA Chemicals has declared force majeure for styrene monomer and solid polystyrene. There was no direct impact to the production of other NOVA Chemicals products.

NOVA Chemicals produces commodity 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. We work 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. Visit NOVA Chemicals on the Internet at www.novachemicals.com.

Photographs and graphics are available upon request.

Forward-Looking Information

The information in this news release contains forward-looking statements regarding styrene monomer production at NOVA Chemicals' Bayport, Texas, facility. By their nature, these forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. These risks and uncertainties include feedstock availability and uncertainties with respect to the determination of the amount of styrene monomer production lost during the outage at the Bayport facility.

Responsible Care® is a registered trademark of the Canadian Chemical Producers' Association (CCPA) in Canada and is a registered service mark of the American Chemistry Council (ACC) in the United States.

Contact Information

  • NOVA Chemicals Corporation
    Media inquiries, please contact:
    Stephanie Franken, 412-490-4292
    E-mail: frankes@novachem.com