230706Zumbach Rayex S Online Ad 368x250pxEN

VM
en English arrow
de Deutsch
ch 中國
Tags

Guill multi productsbanner smartextrusion nosimple

SM 276 Webbanner 368x420px

New Issue

Extrusion 2-2024

19.03.2024

Extrusion 2-2024

EMP24 VMverlag 368x120 EN

CPS24 VMverlag 368x120 EN

368x120 SmartExtrusion 2024

Логотип сайта
Nova Chemicals to sell its expandable styrenics business to Alpek

Nova Chemicals to sell its expandable styrenics business to Alpek

News 06.11.2020

NOVA Chemicals Corporation (“NOVA Chemicals”) announced that it has agreed to sell its expandable styrenics business to a subsidiary of Alpek S.A.B. de C.V. (“Alpek”). The parties expect to close the transaction in the fourth quarter.

The sale of its expandable styrenics business is an important step in NOVA Chemicals’ plan to focus on its olefin and polyethylene business, which includes additional investments to advance a global circular economy for plastic.

“This transaction provides us with immediate cash generation to further strengthen our balance sheet and focus on the safe and successful completion and start-up of our, world-class Advanced SCLAIRTECH™ technology facility under construction in Ontario, Canada,” stated Luis Sierra, president and CEO of NOVA Chemicals. “I’d like to thank our employees for their hard work and dedication. I’m confident that our talented people, assets and technology will allow Alpek to grow and improve this business to better serve customers throughout the Americas.”

“As a leader in the expandable styrenics business in the Americas, Alpek sees strong business opportunities associated with this purchase,” stated José de Jesús Valdez, Alpek’s CEO. “We look forward to welcoming our new team members and capitalizing on the existing momentum to create value for our shareholders.”

NOVA Chemicals’ expandable styrenics business consists of two product lines, expandable polystyrene and ARCEL® resin, with
manufacturing facilities in Pennsylvania and Ohio, along with commercial operations in Asia.

Tags: #Materials, #Alpek, #Nova, #ABS & PS, #PE, #Resin

sm242x60

Extrusion 242 60

Extrusion-International 242x60

Our website makes use of cookies to ensure we give you the best experience on our website.
By continuing browsing on our website you give your consent to our use of cookies.