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Chemical Week Magazine :: Business & Finance :: United States/Americas

Nova to Close Acquired Texas City Styrene Plant

11:39 AM MDT | October 1, 2007 | Rebecca Coons

Nova Chemicals has secured rights to the styrene output at Sterling Chemicals’ 1.7-billion lbs/year Texas City, TX facility for $60 million with the intention of halting styrene production at the plant, says Jeffrey M. Lipton, CEO and president at Nova. The plant accounts for 11% of North American styrene capacity and 3% of global styrene capacity. The purchase was made on behalf of Ineos Nova (Joliet, IL), an expanded and renamed styrenics joint venture between Nova and Ineos that is expected to be operational on October 1, at which time the jv will be...

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