INEOS NOVA joint venture launched

INEOS NOVA, the 50/50 joint venture between Calgary, Alta.-based Nova Chemicals Corporation and Ineos, announced that it had commenced operations on Oct. 1. Joliet, Ill.-based INEOS NOVA is a manufacturer of styrene and styrenics polymers, and extends the European joint venture between the companies to include the North American assets.

“Our company was founded with a firm belief in the industry’s potential and we are committed to making this a reality,” said INEOS NOVA CEO Kevin McQuade. “We believe that our competitiveness depends on the success of our customers and we are dedicated to meeting their needs.”

The joint venture is expected to bring in approximately US$3.8 billion in revenue through manufacturing sites in the U.S., Canada, France, Germany, The Netherlands and Sweden.

The venture will include production and global sales of styrene, polystyrene, NAS and ZYLAR performance polymers. DYLARK polymers will not be included in the joint venture’s portfolio.