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NOVA Chemicals sells scalable styrene business

 Last Update: 2022-08-25
 Source: Internet
 Author: User

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NOVA Chemicals has agreed to sell its scalable styrene business to a subsidiary of Alpek Corp.
, hydrocarbon processing news reported on October 20

The sale of its scalable styrene business is an important step in NOVA Chemicals' plan to focus on its olefins and polyethylene businesses, which include additional investments to promote a global circular economy for plastics

"This transaction allows us to generate immediate cash to further strengthen our balance sheet and focus on the safe and successful completion and launch of our world-class construction in Ontario, Canada," said Luis Sierra, president and CEO of NOVA Chemicals.
Advanced SCLAIRTECH™ technology facility

I am confident that our people, assets and technology will allow Alpek to grow and improve this business to better serve customers throughout the Americas
.

NOVA Chemical's scalable styrene business includes two product lines, scalable polystyrene and ARCEL® resins, production facilities in Pennsylvania and Ohio, and commercial operations in Asia

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