Nova Sells Styrenics Business

Nova Chemicals says it will sell its performance styrenics business to insulated building materials maker PFB Corp (Calgary, AB). Financial details were not disclosed. The deal includes Nova acquiring an equity stake in PFB and holding two seats on PFB’s board of directors. Nova’s Robert Snyder, v.p./performance styrenics, will join PFB as COO. Nova’s performance styrenics business includes expandable polystyrene (EPS) and advanced foam resins made from PS and polyethylene, sold under the brand name Arcel. The company produces EPS and Arcel at its Monaca...

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