Updating Shawcor Ltd., Imperial Oil Ltd., FPI Ltd., and Nova Chemicals Corp.

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SHAWCOR LTD. $29 (Toronto symbol SCL.A; Aggressive Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 73.7 million; Market cap: $2.1 billion; SI Rating: Average) is building a $38 million facility in Camrose, Alberta to take advantage of growing demand for its pipeline coating services in the oil sands region. The company has now paid an undisclosed sum for land next to this new plant, which will increase its storage capacity and efficiency. ShawCor is a buy for aggressive investors. IMPERIAL OIL LTD. $50 (Toronto symbol IMO; Conservative Growth Portfolio, Resources sector; Shares outstanding: 939.6 million; Market cap: $47.0 billion; SI Rating: Average) has moved up in the past few weeks, partly due to rumours that parent company ExxonMobil Corp. is considering buying the 30% of Imperial that it does not already own. However, there’s little overlap between the two companies, so any savings from a combination would be minimal. We feel investors should treat takeover possibilities as a bonus, and focus instead on Imperial’s…