MONACA, Pa. — Nova Chemicals Corp., the Canadian chemical company with about 450 employees in the Pittsburgh region, could have a new owner.
According to a report in Bloomberg, Abu Dhabi's Mubadala Investment Co. is considering its options for Nova, which could be valued at $10 billion or more. The sovereign wealth fund has considered selling Nova to a Canadian pension fund or another company in the industry, but could also just hold on to the plastics and resin manufacturers.
Nova Chemicals has around 450 employees in the region, including 250 at an executive center in Moon and 200 at a manufacturing plant and technology center in Beaver County.