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NOVACOR CHEMICALS INC. TO CEASE PRODUCTION OF POLYSTYRENE RESIN AT ITS LEOMINSTER, MASSACHUSETTS PLANT

 NOVACOR CHEMICALS INC. TO CEASE PRODUCTION
 OF POLYSTYRENE REN? AT ITS LEOMINSTER, MASSACHUSETTS PLANT
 LEOMINSTER, Mass., March 16 /PRNewswire/ -- Novacor Chemicals Inc. announced today that it will cease production of polystyrene resin at its Leominster, Mass. plant, effective Aug. 31, 1992. Approximately 60 employees are affected.
 According to D.F. Clarke, vice president and general manager of polystyrene resins, the scale and efficiency of operations in the polystyrene industry has changed to the point where the Leominster plant is no longer profitable.
 The Leominster plant was built in the early 1960s. Polysar acquired the site in 1970 and largely rebuilt the plant in 1982. Novacor assumed ownership of the site when it acquired Polysar Energy & Chemical Corp. in 1988. The plant has an annual capacity of 120 million pounds.
 The Leominster plant will continue to operate up to the August shutdown in order to allow a smooth transition to equivalent products from other Novacor polystyrene centers in Decatur, Ala., Springfield, Mass., Cincinnati and Montreal.
 Polystyrene is used in numerous food and cosmetics packaging applications and consumer goods, such as audio cassettes and office desk accessories.
 This closure is part of a restructuring program designed by Novacor to improve the competitiveness of its styrene/polystyrene business. There is no financial impact to NOVA Corp. of Alberta (NYSE: NVA, Toronto, Montreal, Calgary: NVA), parent company of Novacor, because provision was made for such possible closures in the restructuring charge announced in December 1991.
 Novacor Chemicals Inc. is a business unit of NOVA Corp. of Alberta. NOVA is a widely held company operating internationally from headquarters in Calgary, Alberta, Canada. NOVA builds its business on pipelines, and the manufacturing and marketing of chemicals produced primarily from Alberta natural resources.
 -0- 3/16/92
 /CONTACT: D.F. Clarke, VP-general manager, polystyrene, 508-537-1111, or C.A. Read (investors), 403-290-7807, all of Novacor/
 (NVA) CO: Novacor Chemicals Inc.; NOVA Corp. of Alberta ST: Alberta IN: CHM SU:


KJ -- LA017 -- 8326 03/16/92 12:20 EST
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Publication:PR Newswire
Date:Mar 16, 1992
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