Canada’s NOVA sells performance styrenics business to PFB
09 May 2012 21:55 [Source: ICIS news]
HOUSTON (ICIS)--Canada’s NOVA Chemicals will sell its performance styrenics business to PFB, the company said on Wednesday.
The deal should be complete in the second half of 2012. The acquisition includes expandable polystyrene (EPS) and ARCEL resin products.
After closing, NOVA will acquire an equity stake in PFB and hold two seats on PFB’s board of directors, NOVA said.
Additionally, Robert Snyder, vice president of performance styrenics for NOVA will become the chief operating officer of PFB International.
The financial details of the deal were not disclosed.
PFB manufactures insulating building products.
By: Bobbie Clark
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