In a bid to trim overcapacity, Nova Corp plans to close its Chesapeake, Va., polystyrene plant. The closures will reduce costs for the company by US$15 million pa. Flat demand for the last five or six years has led to this closure. Nova’s Virginia plant, with a capacity to produce 300 million pounds of polystyrene a year is located far out and is the most remote from customers and raw materials. Due to its location, the expensive ocean barges had to be used to deliver raw materials to the Chesapeake plant.
20-Jan-06 
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