CHICAGO — Nova Chemicals Ltd. is in an acquisition and building mode as the firm prepares to introduce commercial grades of new high-performance polyethylene products in the third quarter of 1998.
Dan Boivin, president and chief operating officer of the Calgary, Alberta, firm said an existing production line at Nova's site in Sarnia, Ontario, will be converted to produce the materials, which are based on the firm's Advanced Sclairtech technology. Nova previously announced it is building a PE facility in Joffre, Alberta, that will use the process. That plant has a planned capacity of about 800 million pounds per year. Production is scheduled to begin in 2000.
Boivin said at a news conference in Chicago that Nova intends to expand its core business aggressively. Nova did not exhibit at NPE 1997.
``Over the next four years, it is our intention to add 400 million pounds of capacity for crystal and high-impact polystyrene, Dylite expanded PS, Dylark automotive resins and for Arcel and clear styrenics resins,'' he said.
Boivin added that the C$3.3 billion (US$2.37 million) company intends to expand through ``timely acquisitions and by replicating our Alberta petrochemical complex in a new global location with low-cost feedstocks.''
He provided no other details and Herman Hulshof, marketing communications manager, said no other information was available.
Nova also introduced a new hexene resin to the PE marketplace, aimed at high-stiffness film applications. The Novapol TF-Y534-IP resin is produced at the Joffre plant.