Canadian Court Orders Nova Chemicals to Pay Dow CAD$1.43 Billion Judgment

| September 24, 2019

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The Court of the Queen’s Bench in Alberta, Canada, has signed a judgment ordering Nova Chemicals to pay Dow CAD$1.43 billion (equivalent to approximately USD$1.08 billion) on October 11, 2019, for damages Dow incurred through 2012 related to the companies’ jointly-owned ethylene asset in Joffre, Alberta, Canada. The court, which initially ruled in June 2018, found that Nova Chemicals 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 asset’s ethylene production. These actions resulted in reduced productivity and sales for Dow. The signed judgment relates to damages Dow incurred through 2012. Dow anticipates receiving an additional judgment for damages owed by Nova for the post-2012 period.

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SIAD Austria

SIAD is a leading Italian chemical group operating in the Technical Gases, Engineering, Healthcare, LPG and Natural Gas sectors. The Group has been active for over 90 years in the Technical Gas business and is also acclaimed for its well-known and established presence in the Engineering sector. In the Healthcare sector, it offers healthcare facilities and also operates in home care.

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Spotlight

SIAD Austria

SIAD is a leading Italian chemical group operating in the Technical Gases, Engineering, Healthcare, LPG and Natural Gas sectors. The Group has been active for over 90 years in the Technical Gas business and is also acclaimed for its well-known and established presence in the Engineering sector. In the Healthcare sector, it offers healthcare facilities and also operates in home care.

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