NOVA Chemicals (International) S.A. and Supreme Petrochem Ltd. (SPL) have inked a license agreement for SPL 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 addition of NOVA Chemicals' proprietary EPS cup bead technology expands Supreme Petrochem's leadership position in styrenics polymers in India and internationally, adding to the existing polystyrene, expandable polystyrene and compounding operations in Nagothane and Chennai. The licensed plant will be designed and constructed for a 20 kta capacity to be situated at the company’s Nagothane facilities.
The proprietary EPS cup bead technology will facilitate the growth of these value adding products in the regional markets. This is an important step in NOVA Chemicals' strategy to enhance its support to its Asian customer base and ensures regional supply to support their growth with these products.