INEOS NOVA News Archives
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INEOS NOVA and SEEA Polymers announce plans for new EPS plant (18/12/2007)
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Fribourg, Switzerland and Bucharest, Romania - INEOS NOVA and SEEA Polymers today announced they have signed a letter of intent to form a 50/50 joint venture to build and operate a new expandable polystyrene (EPS) plant in Romania. Click here to view this press release in English, German, French or Dutch
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INEOS NOVA announces European Polystyrene price increase for December (30/11/2007)
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Fribourg, Switzerland - INEOS NOVA announces a 30 Euro/MT price increase for all grades of Polystyrene in Europe effective 1st December. INEOS NOVA's price spread in November was below expectations, and did not fully reflect market fundamentals. The price increase of 30 Euro/MT is in line with INEOS NOVA's Polystyrene supply/demand balance and is intended to cover increasing energy, transport and additive costs.
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INEOS NOVA announces plans to shut down Belpre polystyrene facility (29/11/2007)
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Joliet, Illinois - INEOS NOVA announced today that it plans to permanently shut down its Belpre, Ohio, polystyrene facility by January 31, 2008. Click here to view this press release.
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INEOS NOVA announces Polystyrene price increase for the UK market. (22/11/2007)
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Fribourg, Switzerland - INEOS NOVA announces a price increase of 55 Euro/Mt for Polystyrene for the UK market. "The exchange rate of the GBP versus the Euro has significantly changed over the last 2 months, and thus this move is intended to recover resulting margin loss in December" explained Pierre Minguet, Business Director Polystyrene, Europe. Price policy for December will be announced week commencing November 26th.
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INEOS NOVA European Polystyrene order book closed for November (20/11/2007)
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Fribourg, Switzerland - INEOS NOVA announces the closure of the order book for Polystyrene for deliveries in November. "Demand is much stronger than anticipated and we have had maintenance outages at two of our Polystyrene plants in October," explained Pierre Minguet, Business Director Polystyrene, Europe. "This has left us with no option but to decline further orders for Polystyrene for November delivery".
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INEOS NOVA acquisition of Sterling capacity clears FTC review (12/11/2007)
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Joliet, Illinois - INEOS NOVA LLC today announced that its previously announced acquisition of exclusive rights to the styrene production from Sterling Chemicals' Texas City, Texas, manufacturing facility has cleared Hart Scott Rodino review by the U.S. Federal Trade Commission Mergers and Acquisitions Branch. The exclusive rights agreement is now effective.
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INEOS NOVA European Polystyrene Price Announcement for November (05/11/2007)
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Fribourg, Switzerland - INEOS NOVA announced today that the prices for all European Polystyrene products sold in November will be kept equal to the October Price.
Click here to view this press release
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INEOS NOVA announces Montréal polystyrene
production to shut down (10/10/2007)
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Joliet, Illinois - INEOS NOVA announced today that it plans to shut down its Montréal, PQ polystyrene production by the end of 2007. Click here to view this press release in English or in French.
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Expanded INEOS NOVA Joint Venture launched (01/10/2007)
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Joliet, Illinois - INEOS NOVA, the 50:50 joint venture between NOVA Chemicals and INEOS, announced today it commenced expanded operations on October 1, 2007. Click here to view this press release.
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INEOS NOVA joint venture approved by Federal Trade Commission (10/09/2007)
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Pittsburgh, PA - NOVA Chemicals Corporation (NYSE, TSX: NCX) today announced that the U.S. Federal Trade Commission has approved the previously announced INEOS NOVA joint venture. Click here to view this press release.
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NOVA Innovene announces intention to relocate support services to The Netherlands (19/06/2007)
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NOVA Innovene announced today its intention to relocate support services of the company to its large manufacturing facility at Breda, Netherlands.
The consequences of these intended changes will be the closure of the Manchester, U.K. office and the downsizing of the Fribourg, Switzerland European headquarters. The senior management and strategic functions will remain at the Fribourg headquarters.
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NOVA Chemicals and INEOS provide an update on expanded Joint Venture (19/06/2007)
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NOVA Chemicals Corporation and INEOS today named the remaining positions on the senior leadership team and announced the headquarters location and name for the companies' proposed, expanded joint venture. Click here for the NOVA Chemicals' press release.
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NOVA Innovene announces May price increase for Polystyrene products (30/04/2007)
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Fribourg, Switzerland - NOVA Innovene announced today a price increase of +50 Eur/t for all Polystyrene products effective May 1st 2007. The price increase reflects the expected increase in the Styrene Monomer contract price in May.
Nova Innovene's realised price spread in April was below expectations, and did not reflect fully the supply/demand balance for the company's products. The announced price takes into account the record level environment of the aromatics chain and the price differential between PS and competing products pricing.
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INEOS and NOVA Chemicals name senior officers for Expanded JV (24/04/2007) (24/04/2007)
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NOVA Chemicals Corporation and INEOS today announced the nomination of the following three senior officers to lead the companies' proposed, expanded joint venture: - Kevin McQuade, Chief Executive Officer. Currently, Kevin McQuade is Chief Executive Officer of INEOS Styrenics. - Martin Pugh, Managing Director, Europe, currently Managing Director of NOVA Innovene. - Chris de la Camp, Chief Financial Officer, currently Finance Director of NOVA Innovene. Further announcements will be made in the coming weeks regarding the name, location of headquarters and the remainder of the Leadership team.
Read more about this announcement on the websites of our shareholders, under www.novachemicals.com and www.ineos.com.
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NOVA Innovene announces price increase of 50 Euro/mt for all Polystyrene products effective from April 1st, 2007. (03/04/2007)
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NOVA Innovene announced today a price increase of 50 Euro/mt for all Polystyrene products effective from April 1st, 2007.
The price increase is necessary to cover rising Styrene Monomer and Rubber costs in April.
Demand for Polystyrene in April continues to be strong as is the outlook for the coming months. In addition, tight availability of products from the four NOVA Innovene's units also justifies to maintain the "Price Spread" to a level reflecting the current company supply and demand position.
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INEOS and NOVA Chemicals announce intent to create expanded joint venture (22/03/2007)
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Today, INEOS and NOVA Chemicals announced their intent to create an expanded joint venture. The expansion will include North American assets from both NOVA Chemicals and INEOS. They plan to complete the transaction later this year, and the new joint venture expects to have annual revenues at start-up of about ¬2.6 billion.
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INEOS and NOVA Chemicals announce intent to create expanded joint venture (22/03/2007)
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Today, INEOS and NOVA Chemicals announced their intent to create an expanded joint venture. The expansion will include North American assets from both NOVA Chemicals and INEOS. They plan to complete the transaction later this year, and the new joint venture expects to have annual revenues at start-up of about ¬2.6 billion.
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Fribourg, Switzerland - NOVA Innovene announced today a price increase of 50 Euro/mt for all Polystyrene products effective from March 1st, 2007. (26/02/2007)
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NOVA Innovene have already closed their order books for February '07 in light of strong demand, combined with low stocks and tight availability of products supplied from its four production sites.
The Polystyrene price increase is fully justified as the Styrene Monomer Contract Price is expected to increase in March. NOVA Innovene believes that the 'Price Spread' achieved in February better reflects the company's present demand and supply position. Therefore, the announced price increase aims essentially at passing on the increased costs (March Styrene Contract Price, continued high prices of energy, additives and transport).
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Headquartered in Fribourg, Switzerland, NOVA Innovene is the European styrenic polymers joint venture between NOVA Chemicals and INEOS. NOVA Innovene employees develop and manufacture market commodity and performance styrenic polymers that are essential to everyday life. We are committed to the Responsible Care principles, to ensure effective health, safety, security and environmental stewardship for employees and communities.
Visit NOVA Innovene on the internet at www.nova-innovene.com.
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NOVA Innovene announces de-bottlenecking of their Expandable Polystyrene (EPS) manufacturing sites (21/02/2007)
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NOVA Innovene announced today its intention to immediately de-bottleneck all of its EPS manufacturing sites in Europe. The EPS capacity will be increased from 350 to 410 KT, with the additional volumes coming on stream gradually over the next 12 months. All of this will be done at extremely low capital cost.
Click here to read the full press release in English, Français, Deutsch or Italiano.
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NOVA Innovene announces January price increase for PS products (22/12/2006)
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Fribourg, Switzerland - NOVA Innovene announced today a price increase of 50 Euro/mt for all Polystyrene products effective from January 1st, 2007. This is due to its strong belief that market fundamentals justify an increased "price spread" between Styrene and Polystyrene, based on roll-over Styrene contract price. NOVA Innovene has also closed the Polystyrene order book for December '06. Read More
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NOVA Innovene shares new ideas on the PS business (30/11/2006)
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Last Wednesday, Pierre Minguet, our Business Director Polystyrene, spoke at the 5th Aromatics and Derivatives Conference in Amsterdam about The Future of Polystyrene. Alongside a business update on PS and EPS, Pierre's presentation included ideas on forward pricing to fight the current price volatility in the PS business.
His presentation was very well received by the audience and rated as "open, honest and provocative".
View his presentation.
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Tackling Climate Change Cost-Effectively (23/11/2006)
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Through its involvement with European insulation associations like PlasticsEurope and EUMEPS (European Manufacturers of Expanded Polystyrene), NOVA Innovene has helped sponsor a study on climate change. Click to read more.
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NOVA Innovene announces November price increase for PS products (30/10/2006)
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NOVA Innovene announced today a price increase of 25 Euro/mt for all Polystyrene products effective from November 1st. The price increase is necessary to cover the increases of energy, transport and feedstock costs from the previous months.
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NOVA Innovene announces October price increase for Polystyrene (05/10/2006)
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NOVA Innovene announced today a price increase of +40 Euro/mt for all Polystyrene products effective from October 1st. In light of a first settlement of the Styrene Contract Price for October 2006 and despite some margin improvements last month, the margin for Polystyrene is still not covering the costs increases of feedstocks, transportation, additives and energy from the previous months .
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NOVA Innovene announces August price increase (31/07/2006)
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NOVA Innovene announced today a price increase of 60 Euro/mt for all Polystyrene products and 50 Euro/mt for all EPS products effective from August 1st. The price increase is necessary to recover lost margin from continuous increase of energy and feedstock costs.
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NOVA Innovene announces intention to close its Polystyrene site in Carrington. (25/07/2006)
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NOVA Innovene announced today its intention to close its Carrington site in October 2006. The plant has solid polystyrene production capacity of 180 kilotonnes per year and currently employs 82 people.
Read the press release in English, French, German, Dutch, Swedish or Italian.
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NOVA Innovene Announces Revised June Price Increase (01/06/2006)
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Fribourg, Switzerland - NOVA Innovene announced today a price increase of 120 Euro per metric tonne for all Polystyrene (PS) products effective June 1st, 2006. The last week price announcement of + 70 Eur/T was revised following the settlement of the June WESCP at 1085 Eur/T.
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NOVA Innovene Announces June Price Increase (29/05/2006)
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Fribourg, Switzerland - NOVA Innovene announced today a price increase of 70 Euro per metric tonne for all Polystyrene (PS) products effective June 1st, 2006. Read More
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NOVA Innovene introduces IMage" technology for EPS Cups and Containers (05/04/2006)
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Fribourg, Switzerland - NOVA Innovene announced today the introduction of a groundbreaking in-mould-labelling technology for EPS cups and containers from NOVA Chemicals.
Please read our press release in English French German Italian Spanish
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NOVA Innovene Announces Polystyrene Price Increase for April (29/03/2006)
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Fribourg, Switzerland NOVA Innovene announced today a price increase of 30 Euro per metric tonne for all Polystyrene (PS) products effective April 1st, 2006. The price increase is necessary to recover lost margin from the continuous increase of energy and feedstock costs. Read More
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NOVA Innovene announces the introduction of NOVA Chemicals DYLARK® FG 2500 (28/03/2006)
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Fribourg, Switzerland - NOVA Innovene announces the introduction of NOVA Chemicals
DYLARK® FG 2500, a high heat copolymer for microwavable food packaging applications. Please read our press release in English French German Italian Spanish
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NOVA Innovene announces a March price increase for its styrenic polymers (22/02/2006)
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Fribourg, Switzerland - NOVA Innovene announced today it will increase prices for both Polystyrene (PS) and Expandable Polystyrene (EPS). The PS price increase will be 70 Euro per metric tonne and the EPS price increase will be 50 Euro per metric tonne , both increases effective March 1st, 2006. Read More
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NOVA Innovene announces a February price increase for its styrenic polymers (25/01/2006)
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Fribourg, Switzerland - NOVA Innovene announced today it will increase prices for both Polystyrene (PS) and Expandable Polystyrene (EPS) by 100 Euro per metric tonne, effective February 1st, 2006. Read More
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New nomenclature for EPS grade range (09/01/2006)
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NOVA Innovene has harmonised its EPS grade names and established a new nomenclature. Read more
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NOVA Innovene receives Competitive Strategy Leadership Award (12/12/2005)
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On December 12th, NOVA Innovene was presented the Frost & Sullivan Award for Competitive Strategy Leadership at the Excellence in Chemicals Awards Banquet in London. This award is presented each year to a company whose competitive strategy has yielded significant gains in market share during the research period. Read more
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Cessation of EPS production at Berre and permanent closure of the EPS plant at Carrington (11/10/2005)
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Please read our press release in English German French Italian.
Please click on the following link to see NOVA Chemicals' press release on this subject.
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NOVA Innovene Launches (01/10/2005)
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NOVA Innovene commenced operations on October 1, 2005. Please read our press release in English German French Italian.
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