Nova Chemicals launches joint venture

Nova Chemicals Corp. and Grupo Idesa announced a binding agreement to form a 50/50 joint venture in Mexico, Novidesa.
Jose Luis Uriegas, the CEO of Grupo Idesa will serve as president of Novidesa. Uriegas said the new venture will distribute Nova Chemicals’ solid polystyrene in Mexico.
"We are very pleased to partner with Grupo Idesa as we introduce Novidesa’s EPS process technology, innovative application designs and value-added polymer products to the Mexican market," said Chris Pappas, president of Nova Chemicals’ Styrenics business.