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 September.
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|Title Annotation:||NEW BUSINESS|
|Date:||Sep 1, 2005|
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