NOVA, Supreme Petrochem ink EPS process technology license agreement

22-Apr-09
Canadian plastics company NOVA Chemicals (International) S.A. and India's Supreme Petrochem Ltd. (SPL) recently executed a license agreement to license NOVA Chemicals' proprietary expandable polystyrene (EPS) cup bead technology. The arrangement also includes a supply agreement between the firms. NOVA Chemicals' proprietary EPS cup bead technology provides enhanced material property and product performance characteristics in diverse food grade applications. The licensed plant will be constructed for a 20,000 tpa capacity and located at Nagothane facilities, near Mumbai. "We are very pleased to expand our existing relationship with Supreme Petrochem, which started with polystyrene licensing in India," said Rocky Vermani, NOVA Chemicals' Managing Director, Licensing. "The addition of NOVA Chemicals' proprietary EPS cup bead technology expands Supreme Petrochem's leadership position in styrenics polymers in India and internationally, adding to our existing polystyrene, expandable polystyrene and compounding operations in Nagothane and Chennai," said Nageswaran Gopal, Supreme Petrochem's Executive Director.
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