Supreme Petro, NOVA Chem ink agreement

The new distribution agreement between NOVA Chemicals and Supreme Petrochem (SPL), introduces ARCEL advanced foam resin to the Indian region and ensures local sourcing of ARCEL resin for moulders.     

"We see partnership with NOVA Chemicals to support the growth of ARCEL resin in India, bringing significant value to Indian exporters," Supreme Petrochem's Chairman M P Taparia said in a statement issued here.     

With this agreement, SPL, jointly promoted by Supreme Industries, India's largest plastic processors, and the Rajan Raheja Group, would be able to offer a wide range of EPS and specialty EPS grades to the Indian market.     

"The new distribution capability supports NOVA Chemicals' strategy to shorten the supply chain for Asian markets as demand for ARCEL resin continues to grow in the region," NOVA Chemicals' Managing Director for ARCEL resin in Asia Tim Wong said.     

"We are very pleased to partner with Supreme Petrochem to deliver the unique benefits of ARCEL resin to a growing Indian export market," Wong said.     

ARCEL resin services as a protective packaging material for damage-sensitive goods such as printers, televisions, computers, appliances and furniture.     

With dramatically reduced package size, more capacity is effectively added, leading to fewer shipments, less fuel consumption and reduced transportation emissions.      

With export of assembled high-value products in consumer durables and electronics picking up rapidly, demand for ARCEL resin is expected to grow and in mature markets it can go up to 4-5 per cent of the normal EPS demand, it added.