JOLIET, ILL., November 29 /CNW/ - INEOS NOVA announced today that it
plans to permanently shut down its Belpre, Ohio, polystyrene facility by
January 31, 2008. The site has production capacity of 220 million pounds of
crystal polystyrene per year. INEOS NOVA previously announced the shutdown of
polystyrene production at the Montreal, Quebec, facility.
"Shutting down the Belpre site removes additional high-cost capacity and
will enable us to further consolidate production at the Company's most
efficient manufacturing sites," said Kevin McQuade, CEO of INEOS NOVA. "We
expect the shutdown to have minimal impact on our ability to deliver quality
products to our customers and we expect to provide our customers with an
effective transition during the coming months."
The shutdown will remove approximately 12 percent of INEOS NOVA's North
American polystyrene production capacity. This action represents another step
toward achieving the $80 million synergies target for the new joint venture.
In addition, the Company will transfer all production of NAS(R) and
ZYLAR(R) specialty resins to its Indian Orchard, Massachusetts, site. "INEOS
NOVA remains committed to growing its NAS and ZYLAR business," said McQuade.
"We believe returning this business to its original manufacturing facility
will be seamless and will allow us to more efficiently utilize our
INEOS NOVA is committed to being recognized as the global leader in
styrenics. Our employees manufacture and market styrene and styrenic polymers
with a dedicated focus on health, safety, security and environmental
stewardship. INEOS NOVA is a joint venture of INEOS and NOVA Chemicals.
Visit INEOS NOVA on the Internet at www.ineos-nova.com.
NAS and ZYLAR are registered trademarks of INEOS NOVA LLC
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For further information: INEOS NOVA Media Inquiries, please contact Ross
Wonnick - Vice President and General Counsel, +1 412-490-4341 E-mail: