INEOS NOVA expands JV to include styrenics unit

01 October 2007 15:11  [Source: ICIS news]

LONDON (ICIS news)--INEOS NOVA’s joint venture has just been expanded to include NOVA’s STYRENIX unit and other styrenic polymer assets and is expected to post $3.8bn in revenues per annum, the two companies said on Monday.

 

The expanded joint venture between INEOS and NOVA, which was announced in March, was set to generate earnings from manufacturing sites in the US, Canada, France, Germany, the Netherlands and Sweden, said INEOS NOVA, which is headquartered in Illinois.

 

“The venture will include production and global sales of styrene, polystyrene, performance polymers as well as expandable polystyrene in Europe,” the company added.

 

Dylark polymers will not be included in the joint venture and would continue to be manufactured and sold by NOVA Chemicals, said the company.

 

Prior to the joint venture, Alberta-based NOVA had been planning for some time to either sell STYRENIX or find a joint-venture solution for it. 

 

INEOS is a UK-based chemicals company. 

By: Lucy Craymer
+44 20 8652 3214

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