Helm AG to Market NOVA Chemicals’ Styrene Monomer in Europe
Fribourg, Switzerland and Hamburg, Germany – NOVA Chemicals and Helm AG signed a sales and marketing agreement for styrene monomer in Europe. The long-term agreement, which will take effect on April 1, 2003, includes the transfer of essentially all sales and marketing for NOVA Chemicals’ existing European styrene monomer merchant sales business to Helm AG.
While NOVA Chemicals does not produce styrene monomer in Europe, it obtains supplies from a variety of sources, including trans-Atlantic swap arrangements. Neither NOVA Chemicals’ merchant business outside of Europe, nor Helm’s existing merchant business are affected by the agreement. Volumes and pricing associated with the agreement are confidential.
“NOVA Chemicals and its customers will benefit from Helm’s extensive logistics and terminal network, and their strong marketing and sales organization,” said Martin Pugh, NOVA Chemicals’ Vice President and Managing Director – Europe. “In addition, by building this relationship with Helm, NOVA Chemicals will be able to focus its resources on exports to other regions.”
“This is a major milestone for Helm,” said Rolf Meyer-Ottens, a Member of the Executive Board at Helm. “We are gradually developing our company into a multifunctional business group in chemicals. We are pleased to enter into this long-term, strategic relationship with NOVA Chemicals.”
NOVA Chemicals Corporation is a focused commodity chemical company, producing styrenics and olefins/polyolefins at 18 locations in the United States, Canada, France, the Netherlands and the United Kingdom.NOVA Chemicals Corporation also owns 37 percent of Methanex Corporation, the world's largest and lowest cost producer of methanol. NOVA Chemicals Corporation shares trade on the Toronto and New York exchanges under the trading symbol NCX. Visit NOVA Chemicals on the Internet at www.novachemicals.com.
Helm AG is an international distribution organization for the chemicals industry. By maintaining a global presence in 32 different countries, Helm saves producers both the expense and risks of maintaining their own distribution network. Visit Helm AG on the Internet at www.helmag.com.
For more information from NOVA Chemicals Corporation, please contact:
Jack Maurer – Media Relations Office: 412.490.4292 or maurerj@novachem.com
For more information from Helm AG, please contact:
Rolf R. Reichardt –
Senior Executive Manager, Admin./Public Relations Office: 0049 40 2375 1820 or R.R.Reichardt@helmag.com