Nova bids for Shell's polystyrene business

Article Abstract:

Nova Chemicals, based in Calgary, Canada, already North America's biggest producer of polystyrene, submitted a bid to acquire Royal Dutch/Shell Group's four polystyrene plants in Britain, the Netherlands and France. Polystyrene is a commodity chemical used to produce such products as compact disk cases, foam coffee cups and automobile interior components. Shell's polystyrene business has been in the selling block for several months now.

Europe, Plastics Material and Resin Manufacturing, Polystyrene, Royal Dutch-Shell PLC

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Magellan buys specialty manufacturer

Article Abstract:

Magellan Aerospace Corp., an aircraft components specialty manufacturer based in Toronto, Canada, has acquired Corona, NY-based Ellanef Manufacturing Corp., which manufactures complex components for commercial and military aircraft. Terms of the deal were not disclosed. The acquisition of Ellanef, which posted a revenue of $88.1 million in 1998, would give Magellan a total sales of around C$550 million.

United States, Aircraft Engines & Parts, Aircraft Engine and Engine Parts Manufacturing, Aircraft engines, Ellanef Manufacturing Corp

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Norsk Hydro in bid for Saga

Article Abstract:

Norsk Hydro ASA, of Norway, has forwarded a $2.23 billion acquisition bid for oil company Saga Petroleum AS, the biggest listed private oil company in Norway. The acquisition of Saga Petroleum will increase Norsk Hydro's oil and gas output by 70% and its reserves by 60%. The deal will result in the layoff of about 800 workers out of the combined entities' 4,000 workers.

Petroleum and Coal Products Manufacturing, Norway, Petroleum, Saga Petroleum A

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