NOVA Chemicals and NOVO Foam Products LLC announce Strategic Alliance
Pittsburgh, PA (January 7, 2010) - NOVA Chemicals Inc. and NOVO Foam Products LLC today announced the formation of a Strategic Alliance, featuring a joint development and supply agreement, to further the advancement of the NOVO Foam, Air Ride Pallet® line of environment-friendly lightweight shipping pallets. Invented using the patented INOVO process, the Air Ride Pallet portfolio utilizes the latest technology, design and materials, delivering superior performance to the material handling industry. This collaboration enables NOVO Foam to apply NOVA Chemicals' material science expertise in resilient, sustainable resins for the pallet's foam core. "Collaborating with NOVA Chemicals enables us to deliver the best lightweight, high performance, reusable and recyclable plastic pallets to our customers," stated Tom Bohan, President of NOVO Foam Products LLC. Air Ride Pallet products are lighter than traditional wood or plastic alternatives and can immediately reduce airfreight costs by an average of 5%. The unique lightweight design also provides significant environmental benefits through recycling, carbon emission reduction and managed life cycle practices. "We are excited to be a material supplier to such an innovative product that provides both environmental and cost savings to the industry," said Bob Snyder, Vice President, Performance Styrenics for NOVA Chemicals. NOVO Foam's initial offering will focus on product shipments via airfreight from Asia to North America and Europe. Air Ride Pallet delivers superior value to markets including; hi-tech, pharmaceuticals, food processing, grocery and food product distribution, perishables, logistics service providers and international shippers. ## About NOVA Chemicals Corporation NOVA Chemicals develops and manufactures chemicals, plastic resins 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 sustainability and Responsible Care®. NOVA Chemicals is a wholly owned subsidiary of The International Petroleum Investment Company (IPIC) of the Emirate of Abu Dhabi. www.novachemicals.com About NOVO Foam NOVO Foam Products LLC was founded in 2004 by a team of experienced business, technology, manufacturing and logistics industry professionals. Our initial focus was the development of a value added strong, lightweight shipping solution and a business model that would address the changing needs of the global shipping industry. Our development project resulted in the invention of the INOVO Process and the Air Ride Pallet line of material handling products. Media Contacts NOVA Chemicals Wendy Lomicka -- Director, Corporate Communications Tel: 412.490.4292 E-mail: lomickaw@novachem.com 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. |
