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News // Companies

NOVA Chemicals, BP Form JV

17 November 2004 , 09:36376
Canadian petrochemical company NOVA Chemicals agreed to form a joint venture with BP PLC to manufacture and market styrenic polymers in Europe.

NOVA said the joint venture is expected to generate about $1 billion in revenue from seven manufacturing sites in France, Germany, the Netherlands, Sweden and the United Kingdom. It will be headquartered in Fribourg, Switzerland.

The companies expect to reach a final agreement on the venture in early 2005 and begin operations in the first half of the year.

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