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Ineos Nova to shut down Montreal polystyrene plant by end of year
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Oct 10, 2007 9:28:00 AM MST Ineos Nova to shut down Montreal polystyrene plant by end of year (Nova-Chemicals) JOLIET, Ill. _ Ineos Nova, a joint venture between Nova Chemicals Corp. (TSX:NCX) and global petrochemicals giant Ineos, will shut down a Montreal polystyrene production facility by the end of the year. The closure will cut six per cent of the joint venture‘s polystyrene production and is part of a restructuring that aims to achieve about $50 million in annual synergies. It was not immediately known how many jobs, if any, are affected by the closure. “Shutting down the Montreal site will remove high-cost capacity and enable us to consolidate production at our most efficient manufacturing sites,‘‘ Kevin McQuade. “We are committed to providing our customers with an effective transition during the coming months.‘‘ In March, Nova announced the deal with global chemicals giant Ineos to expand the two companies‘ existing European styrene joint venture to include North American styrene and polystyrene plants in Canada and the United States. Styrene and polystyrene are widely produced petrochemicals used in making coffee cups, egg cartons, foam meat trays, toys and many other products. The joint venture company is expected to have revenues of about US$3.5 billion a year and will be the world‘s biggest producer of styrene and polystyrene _ widely produced petrochemicals used in making coffee cups, egg cartons, foam meat trays, toys and many other products. Nova keeps full ownership of its other major divisions, which make olefins and polyolefins, chemicals used in packaging, electronics, aviation, manufacturing and other sectors, and expandable polystyrene. -
International Privacy Experts Meet in Montreal 9/7/2007 The privacy world will be in the spotlight as international privacy practitioners meet in Montreal to face rapidly changing technologies and heightened national security concerns. The Office of the Privacy Commissioner of Canada is hosting the 29th International Conference of Data Protection and Privacy Commissioners in Montreal from September 25 to 28th. Among the topics to be explored are: public safety, globalization, Radio Frequency Identification, nanotechnology, children and privacy, location-based tracking, data mining and Internet crime. Conference organizers say speakers include: - Michael Chertoff, Secretary of the US Department of Homeland Security, who will give a keynote address on privacy and public security. - Peter Fleischer, Google's global privacy counsel. - Bruce Schneier, internationally renowned privacy and security guru and best-selling author of books such as Beyond Fear: Thinking Sensibly about Security in an Uncertain World and Secrets and Lies. - Katherine Albrecht, widely recognized as one of the world's leading experts on consumer privacy for her work as director of CASPIAN (Consumers Against Supermarket Privacy Invasion and Numbering), an organization she founded to address retail privacy invasion. - Simon Davies, a pioneer of the international privacy arena and the founder and director of the watchdog group Privacy International. The complete program and speakers list are available at: www.privacyconference2007.gc.ca.
