18 September 2007 23:41 [Source: ICIS news]
Under the agreement, NOVA will have the exclusive right to the entire production capacity of Sterling's Texas styrene plant in Texas City, Sterling said. In addition, NOVA will buy Sterling's styrene monomer railcar fleet.
If approved by the US Federal Trade Commission (FTC), the agreement will last until 31 December 2017, Sterling said.
NOVA will pay Sterling a $6m break-up fee if the FTC does not approve the agreement, Sterling said.($1.00 = €0.72)
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