NOVA Chemicals and Supreme Petrochem Ltd. Announce EPS Process Technology License and Product Off-Take Venture

NOVA Chemicals (International) S.A. and Supreme Petrochem Ltd. (SPL) announced they have executed a license agreement for SPL to license NOVA Chemicals’ proprietary expandable polystyrene (EPS) cup bead technology. The arrangement also includes a supply agreement between the firms. NOVA Chemicals’ proprietary EPS cup bead technology provides enhanced material property and product performance characteristics in diverse food grade applications.

“We are very pleased to expand our existing relationship with Supreme Petrochem, which started with polystyrene licensing in India,” said Rocky Vermani, NOVA Chemicals’ Managing Director, Licensing. “The proprietary EPS cup bead technology will facilitate the growth of these value adding products in the regional markets. Also, this is an important step in NOVA Chemicals’ strategy to enhance its support to its Asian customer base and ensures regional supply to support their growth with these products.”

“The addition of NOVA Chemicals’ proprietary EPS cup bead technology expands Supreme Petrochem’s leadership position in styrenics polymers in India and internationally, adding to our existing polystyrene, expandable polystyrene and compounding operations in Nagothane and Chennai,” said Nageswaran Gopal, Supreme Petrochem’s Executive Director. “The licensed plant will be designed and constructed for a 20 kta capacity and situated at our Nagothane facilities, near Mumbai.”

About NOVA Chemicals

NOVA Chemicals (NYSE:NCX)(TSX:NCX) develops and manufactures chemicals, plastics and end-products that make everyday life safer, healthier and easier. Our employees work to ensure health, safety, security and environmental stewardship through our commitment to Responsible Care®. NOVA Chemicals shares are traded as NCX on the Toronto and New York stock exchanges. Visit NOVA Chemicals on the Internet at www.novachemicals.com.

About Supreme Petrochem Ltd.

Supreme Petrochem Ltd. has been jointly promoted by Supreme Industries Ltd., India’s largest plastic processors, and the Rajan Raheja Group. The company commands close to 50% market share in the polystyrene business in India, and has a manufacturing capacity of 272,000 TPA. It is also a leading producer of specialty compounds and masterbatches for the automotive, styrenics and other plastics industries in the country.

SPL is also making a major entry in EPS business with a revamped plant start of 20,000 TPA in Chennai. The company offers a comprehensive range of all key grades of polystyrene—crystal, impact and specialty. Globally, Supreme Petrochem has a presence in 93 countries.

Photographs and graphics are available upon request.

Responsible Care® is a registered trademark of the Canadian Chemical Producers Association (CCPA) in Canada and is a registered service mark of the American Chemistry Council (ACC) in the United States.