NOVA Chemicals raises EPS prices

12-Feb-2002
Fribourg, Switzerland – NOVA Chemicals announced an increase in the prices at which it sells its expandable polystyrene (EPS) products in Europe. An increase of 20% has been announced, effective March 1, followed by an additional 10% effective April 1. A further increase in May is anticipated, depending on how market demand develops. NOVA Chemicals says that the stepped increase is to allow their customers time to negotiate any necessary price rises for their products with the end users. “The Industry has been living with very low margins for a long time,” says Bob Snyder, Vice-President of sales and marketing for the European styrenics business. “We judge that the time is right to move now, since inventory levels across the industry are low and demand is showing signs of improvement”. NOVA Chemicals Corporation is a focused commodity chemical company, producing olefins/polyolefins and styrenics at 18 locations in the United States, Canada, France, the Netherlands and the United Kingdom. NOVA Chemicals Corporation also owns 35 percent of Methanex Corporation, the world’s largest and lowest cost producer of methanol. NOVA Chemicals Corporation shares trade on the Toronto and New York exchanges under the trading symbol NCX. Visit NOVA Chemicals on the Internet at www.novachemicals.com.

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