Court Orders Nova to Pay Dow for Damages Related to Their JV Joffre Ethylene Unit

摘要

Joffre--The Court of the Queen's Bench in Alberta has signed a judgment ordering Nova Chemicals to pay Dow C$1.43-billion for damages incurred through 2012 related to the companies’equally-owned ethylene facility in Joffre,Alberta,Canada.The court found that Nova failed to operate the ethylene asset at full capacity for more than 10 years,and furthermore,that Nova violated several contractual agreements related to Dow receiving its share of the plant's ethylene production.These actions resulted in reduced productivity and sales for Dow.