JV in the Chemical industry.
Nova Chemicals 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. Chris Pappas, president of Nova
Chemicals' Styrenics Business, stated: "We are very pleased to
bring our industry-leading EPS process technology, exclusive application
designs and value-added polymer products to the rapidly expanding
Mexican market." Grupo Idesa's CEO, 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