Nova Chemicals reached an agreement in July with their Mexico joint venture partner, Grupo Idesa, regarding the sale of Nova’s 50% interest in the Novidesa joint venture to Grupo Idesa. Novidesa is a manufacturer and distributor of construction systems.
Nova has also recently decided to begin to wind down Accelerated Building Technologies business and its related technologies, while, on a parallel path, continuing to entertain strategic options, including a sale of these assets. The remaining assets and associated businesses of the Syntheon subsidiary continue to be available for immediate sale.