PITTSBURGH (AP) — Nova Chemicals Corp. on Wednesday said it plans to undertake a series of polyethylene plant modernization and expansion projects in Canada.
The projects will add a total of up to 250 million pounds per year of new polyethylene capacity in stages over the next two years, the chemicals company said. The expansions will be done around Sarnia, Ontario.
The total cost will be about $80 million and will not result in a material change in the company's overall capital program, Nova said.
Nova shares fell 59 cents, or 2 percent, to close at $29.