PFB Corporation and NOVA Chemicals Corporation Terminate Letter of Intent for Acquisition of Nova Chemicals' Performance Styrenics Business
CALGARY, ALBERTA, Nov 16, 2012 (Menafn - Marketwire via COMTEX) --PFB Corporation ("PFB") announces that it has agreed with Nova Chemicals Corporation ("NOVA Chemicals") to terminate their letter of intent whereby PFB would acquire NOVA Chemicals' Performance Styrenics business, including the expandable polystyrene ("EPS") and ARCEL(R) resin products.
PFB and NOVA Chemicals have been unable to execute definitive agreements in accordance with the terms of the Letter of Intent.
PFB Corporation is a vertically integrated manufacturer of insulating building products that are marketed across North America under five brands. Plasti-Fab, EPS Product Solutions(R) are products, manufactured using expanded polystyrene (EPS) as base raw materials, that are delivered to customers in five segmented markets. Advantage ICF Systems(R) are insulating concrete forming systems that are employed to build insulated foundations and walls from concrete in both residential and commercial markets. Insulspan(R) Structural Insulating Panels Systems (SIPS) are used to create structural walls and to replace trusses on roof systems to form an energy-efficient structural envelope. PFB Custom Homes Group includes Riverbend(R) Timber Framing, PrecisionCraft(R) Log &Timber Homes, Point Zero(TM) Homes and M.T.N Architects. Each brand provides clients with our exclusive Total Home Solution(R) for building custom homes in the US, Canada and internationally that can include Insulspan SIPS for the walls and roof, and Advantage ICFS for the building's foundations.
PFB Corporation is listed for trading on the Toronto Stock Exchange, symbol PFB.
FOR FURTHER INFORMATION PLEASE CONTACT: PFB CorporationStephen P. HardyVice President & CFO(403) 569 4303(403) 569 4075 (FAX)
PFB Corporation 100, 2886 Sunridge Way NE Calgary, Alberta T1Y 7H9
SOURCE: PFB Corporation
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