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JV in the Chemical industry.

Nova Chemicals NOVA Chemicals is a leading chemical company jointly headquartered in Calgary, Alberta, and the Pittsburgh, Pennsylvania, suburb of Moon Township. It was founded in 1954. The corporation's chemical assets are divided into two divisions: Olefins/Polyolefins and Styrenics.  Corporation announced an agreement to form a joint venture with Grupo Idesa in Mexico. The new alliance will be called Novidesa, SA de CV and it is expected to be a market leader in high value expandable polystyrene polystyrene (pŏl'ēstī`rēn), widely used plastic; it is a polymer of styrene. Polystyrene is a colorless, transparent thermoplastic that softens slightly above 100°C; (212°F;) and becomes a viscous liquid at around 185°C; . Chris Pappas, president of Nova Chemicals' Styrenics Business, stated: "We are very pleased to bring our industry-leading EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format.  process technology, exclusive application designs and value-added polymer products to the rapidly expanding Mexican market." Grupo Idesa's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Jose Luis Uriegas, said: "We are delighted to bring outstanding technology, innovative products and applications to both new and existing customers in Mexico. We are confident that the new products offered by the joint venture will help meet the performance requirements of growing Mexican markets, particularly through highly efficient, high-tech construction applications." Novidesa is expected to start operating this September.
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Title Annotation:NEW BUSINESS
Publication:Business Mexico
Date:Sep 1, 2005
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