Nova Details Layoffs And Venture Savings | Chemical & Engineering News
Volume 85 Issue 24 | p. 17 | Concentrates
Issue Date: June 11, 2007

Nova Details Layoffs And Venture Savings

Department: Business

Nova Chemicals is eliminating 90 positions in the U.S. and Europe as part of a cost-reduction effort. The company says the reduction will save it $12 million annually. It will take a second-quarter charge of $6 million related to the layoffs. Separately, Nova and Ineos have named Joliet, Ill., as the headquarters of their proposed North American polystyrene joint venture. The companies have also increased their estimate of the initial savings stemming from the venture by 25% to $50 million.

Chemical & Engineering News
ISSN 0009-2347
Copyright © American Chemical Society

Leave A Comment

*Required to comment