Nova shells out for PS
15 Jan 2000
Canada's Nova Chemicals has emerged as the highest bidder in Shell's auction of its polystyrene business. The company will pay $215million for the business, which operates in the Netherlands, France and the UK.
Nova intends to cut costs back drastically in order to improve the business's competitiveness. The business operates a 120 000tpa solid PS plant in Breda, Netherlands, and a total of 200,000tpa of expandable PS capacity in Breda, Carrington, UK, and Berre, France. Lipton says that all these plants will continue to operate, with styrene monomer sourced from Shell in a long-term contract.
