Volume 95 Issue 17 | p. 10 | News of The Week
Issue Date: April 24, 2017 | Web Date: April 18, 2017

Nova will buy Williams’s ethylene plant

Transaction is Canadian firm’s second recent U.S. Gulf Coast deal
Department: Business
Keywords: petrochemicals, ethylene, Nova Chemicals, shale, Louisiana, polyethylene, Geismar

In its second big U.S. Gulf Coast deal in as many months, the Canadian petrochemical maker Nova Chemicals has agreed to buy Williams Partners’ Geismar, La., ethylene cracker and related assets for $2.1 billion.

Nova will get Williams’s 88% interest in the Geismar cracker, which in 2015 was expanded by 40% to a capacity of 900,000 metric tons per year. Saudi Basic Industries owns the other 12%.

Also included in the deal is Williams’s interest . . .

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