Ineos Nova and SEEA to Form EPS JV

Ineos Nova and SEEA Polymers signed a letter of intent to form a 50/50 joint venture to build and operate an expandable polystyrene (EPS) plant at SEEA’s Medgidia, Romania site. The proposed facility will have an EPS production capacity of 100,000 m.t./year and is expected to start operations by late 2009. The companies expect to finalize a binding agreement by the end of the first quarter, following completion of final market and capital plans. Proximity to the Black Sea will enable the plant to keep logistics costs down, the companies say. Romania’s...

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