NOVA Corporation of Alberta
NOVA Corporation of Alberta (now NOVA Corp), with head offices in Calgary, is a Canadian energy company with 1994 sales of $3.7 billion, assets of $8.3 billion and 6600 employees. Ownership is widely distributed with over 85% of the shares held by Canadians. Originally known as the Alberta Gas Trunk Line Company Ltd, the corporation was established in 1954 to build, own and operate Alberta's natural gas gathering and transmission facilities.
In the early 1970s the corporation broadened its base, and today it is involved in natural gas transmission, resource development, petrochemicals and manufacturing. It was renamed in 1980. The Alberta gas transmission system is one of the largest and most technically advanced in the world. In addition, NOVA is the largest manufacturer and marketer of polyethylene products in Canada.
The group of companies currently operating under the NOVA banner in Canada includes Foothills Pipe Lines (Yukon) Ltd and Novacor Chemicals Ltd. NOVA also owns a 24% interest in Methanex Corporation, the world's largest producer of methanol. NOVA has energy-related enterprises in the US, Italy and elsewhere. In February 1998 NOVA merged with TRANSCANADA PIPELINES creating the 4th-largest gas pipeline company in North America.