NOVA announces price increase

NOVA Innovene has announced a price increase of 50 Euro/mt for all Polystyrene products effective from March 1, 2007.

NOVA Innovene has already closed its order books for February 2007 in light of strong demand, combined with low stocks and tight availability of products supplied from its four production sites.

The Polystyrene price increase is fully justified as the Styrene Monomer Contract Price is expected to increase in March. NOVA Innovene believes that the 'Price Spread' achieved in February better reflects the company's present demand and supply position. Therefore, the announced price increase aims essentially at passing on the increased costs (March Styrene Contract Price, continued high prices of energy, additives and transport).

Headquartered in Fribourg, Switzerland, NOVA Innovene is the European styrenic polymers joint venture between NOVA Chemicals and INEOS. NOVA Innovene employees develop and manufacture market commodity and performance styrenic polymers that are essential to everyday life.