Nova opts out of PFB acquisition

Canadian firm Nova Chemicals says that it has mutually agreed with PFB Corporation to terminate the letter of intent for PFB to acquire Nova Chemicals’s Performance Styrenics business.

Nova Chemicals will retain and continue to operate its Performance Styrenics business, which includes its expandable polystyrene and Arcel resin products.

The decision was made as it had become apparent that PFB would be unable to complete certain steps necessary to consummate its planned expansion of PFB’s vertically integrated, construction materials focused products offering in the US. As a result, both parties decided to terminate the letter of intent.


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