NewsFlashINEOS NOVA to close Canada PS plant
10 October 2007 15:50 [Source: ICIS news]
HOUSTON (ICIS news)--US styrenics joint venture INEOS NOVA plans to shut down its 120m lb (54,000 tonne)/year polystyrene (PS) plant in Montreal, Canada by the end of the year, the company said on Wednesday.
The shutdown will remove high-cost capacity and allow the joint venture to consolidate production at its most efficient plants, according to a statement by Kevin McQuade, chief executive of INEOS NOVA.
The shutdown will remove 6% of INEOS NOVA's PS capacity in North America, the company added.
The closing is part of the venture's strategy of achieving $50m (€36m) in annual North American synergies.
INEOS NOVA is a joint venture formed by INEOS and NOVA Chemicals.
($1.00 = €0.71)
By: Al Greenwood
+1 713 525 2645
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
| ICIS news FREE TRIAL |
| Get access to breaking chemical news as it happens. |
| ICIS Global Petrochemical Index (IPEX) |
| ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index |
Related Articles
- 05 Dec 07 20:42 INEOS NOVA to repair styrene plant in Texas
- 04 Dec 07 18:06 Canada cuts rates due to US crisis, C$ strength
- 29 Nov 07 15:56 INEOS NOVA to close down Ohio PS plant
- 20 Nov 07 11:31 INEOS NOVA closes Europe PS order book for Nov
- 12 Nov 07 16:06 US FTC approves INEOS NOVA styrene rights deal
- 08 Nov 07 19:32 Record-high Canada dollar hits chems hard
- 07 Nov 07 16:24 Europe PS market cautious, styrene falls, high oil
- 24 Oct 07 14:34 NOVA Chemicals posts Q3 op profit of $188m
- 12 Oct 07 00:00 US EPS imports decline 17.6% in August
- 09 Oct 07 17:55 US producers look to raise October styrene price
- 09 Oct 07 17:39 Europe October PS taking time to settle - buyers
- 05 Oct 07 21:15 Styrene still challenged after NOVA deal - Citi
- 01 Oct 07 15:11 INEOS NOVA expands JV to include styrenics unit
- 19 Sep 07 19:55 INEOS NOVA to shut US styrene plant production
Latest News
- 20 Jun 13 05:00 NOON SNAPSHOT - Asia Markets Summary
- 20 Jun 13 04:55 China’s Guizhou Chitianhua starts Chishui site maintenance
- 20 Jun 13 04:51 Major Asian petchem shares down sharply on negative China PMI data
- 20 Jun 13 04:48 China polysilicon prices rising on import penalty tariff hopes
- 20 Jun 13 04:36 Asia EPDM to extend falls on Europe surplus stocks, weak rupee