Expanded INEOS NOVA Joint Venture Launched

Joliet, IL - INEOS NOVA, the 50:50 joint venture between NOVA Chemicals and INEOS, announced recently it commenced expanded operations on October 1, 2007. Headquartered in Joliet, Illinois, INEOS NOVA is a leading manufacturer and marketer of styrene and styrenic polymers in North America and Europe.

Kevin McQuade, CEO of INEOS NOVA said, "INEOS NOVA is leading significant change in the styrenics industry. Our company was founded with a firm belief in the industry's potential and we are committed to making this a reality." McQuade went on to say, "We believe that our competitiveness depends on the success of our customers and we are dedicated to meeting their needs."

As previously announced, INEOS NOVA is expected to generate approximately $3.8B (€ 2.7 billion) in revenue from manufacturing sites in the United States, Canada, France, Germany, The Netherlands, and Sweden. The venture will include production and global sales of styrene, polystyrene, NAS and ZYLAR performance polymers as well as expandable polystyrene in Europe. DYLARK polymers will not be included in the joint venture and will continue to be manufactured and sold by NOVA Chemicals.

SOURCE: INEOS NOVA