IHS Chemical Week

Nova terminates letter of intent to sell styrenics to PFB

12:33 PM MST | November 19, 2012

Nova Chemicals says that it and PFB Corp., (PFB; Calgary, AB) have agreed to terminate their letter of intent for PFB to acquire Nova Chemicals’ performance styrenics business. The companies announced the deal in May. It had become apparent to both Nova Chemicals and PFB that PFB would be unable to complete steps necessary to consummate its planned expansion of PFB’s vertically integrated, construction materials focused products offering in the United States. As a result, both parties decided to terminate the letter of intent, Nova says. “We are...

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