INEOS NOVA Announce Price Increases for Expandable Polystyrene (EPS)

Mo, 4 February 2008

INEOS NOVA announced today that they are increasing the price for expandable polystyrene (EPS) resins by €70/MT with immediate effect for January, and by a further €50/MT effective February 1st 2008. "Margins are at unsustainably low levels as a result of price decreases during Q4 2007", said Peter Ayrey, EPS Business Director.

"We expect strong demand in January and February as many customers are rebuilding inventories which they depleted for year end. With significantly increasing feedstock costs, these price increases become even more necessary at this time."

INEOS NOVA is committed to being recognized as the global leader in styrenics. Our employees manufacture and market styrene and styrenic polymers with a dedicated focus on health, safety, security and environmental stewardship. INEOS NOVA is a joint venture of INEOS and NOVA Chemicals.