03-Jun-2008 - NOVA Chemicals Corporation

NOVA Chemicals and Supreme Petrochem Ltd announce exclusive distribution agreement for ARCEL resin in India

NOVA Chemicals (International) S.A. and Supreme Petrochem Ltd (SPL) announced an exclusive distribution agreement for ARCEL® advanced foam resin in India. The new distribution agreement between NOVA Chemicals and Supreme Petrochemintroduces ARCEL advanced foam resin to the India region and ensures local sourcing of ARCEL resin for molders.

"This new distribution capability supports NOVA Chemicals' strategy to shorten the supply chain for Asian markets as demand for ARCEL resin continues to grow in the region," said Tim Wong, NOVA Chemicals' Managing Director for ARCEL resin in Asia. "We are very pleased to partner with Supreme Petrochem to deliver the unique benefits of ARCEL resin to a growing Indian export market."

The new ARCEL resin distribution agreement with Supreme Petrochem supports NOVA Chemicals' strategic growth plans in its Performance Styrenics business. ARCEL resin runs on standard EPS molding equipment, processes more easily than competitive materials, and is recyclable in the polystyrene recycling stream. ARCEL resin is processed by customers worldwide.

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    Supreme Petrochem Ltd has been jointly promoted by Supreme Industries Ltd, India's largest plastic processors, and the Rajan Raheja Group. The company commands close to 50% market share in the polystyrene business in India, and has a manufacturing capacity of 272,000 TPA. It is also a lea ... more