Polynt, CCP create composite resins giant

EUROPEAN PLASTICS NEWS

Published: July 18, 2014 10:13 am ET
Updated: July 18, 2014 10:22 am ET

Image By: CCP Composites CCP Composites' materials are used in a variety of industries, including fiberglass pools.

Related to this story

Topics Materials, Mergers & Acquisitions, China, Europe, United States, Materials Suppliers

France’s Total SA has agreed to sell CCP Composites to Polynt Group SpA, based in Italy, for an undisclosed price.

CCP produces unsaturated polyester resins, gelcoats and vinyl ester. Its combination with Polynt’s unsaturated polyester resins business would create the largest composite resins producer in Europe and number three globally, the companies claim.

CCP has 800 employees at 26 production sites worldwide, including 220 employees in France, mainly based at its Drocourt plant in northern France.

Its U.S. operations are based in North Kansas City, Mo. Until 2011, the company was known as Cook Composites & Polymers Co.

The company’s revenue was $560 million in 2013.

Polynt, which reported revenue of $1.1 billion in 2013, has 1,500 employees in Europe including five plants in Italy, China and the U.S. The acquisition of CCP will be made by its U.S. subsidiary, PCCR, which is based in Carpentersville, Ill., and has four facilities that make coating resins.

Polynt is owned by European investment group Investindustrial, whose portfolio includes shareholdings in sports car maker Aston Martin and motorcycle manufacturer Ducati.

“The composite resins business is highly specialized and not integrated with Total’s petrochemicals operations,” said Patrick Pouyanné, president of Total’s Refining & Chemicals business, in a statement. “In joining a front-ranking global resins player, CCP Composites would be able to consolidate its position, participate to the creation of a global leader, and enjoy new growth opportunities. A combining with Polynt Group, which operates in segments that are a strategic fit with CCP Composites’ would create a top-tier industrial front-runner.”

The combined Polynt and CCP would operate throughout the composites value chain, from upstream production of raw materials to downstream manufacture of resin-fiber composites. Their products are used in a wide range of applications, such as boat hulls, panels for refrigerated trucks, swimming pools and shower trays.

The companies also highlighted the geographic fit of the new group, with Polynt mainly active in Italy and CCP in France.

“This business [CCP] is an excellent fit with our existing operations in specialty chemicals and will provide us with a significant new presence in the marketplace from which to grow further in this industry,” said Andrea C. Bonomi, senior industrial advisor of Investindustrial, in a statement.


Comments

Polynt, CCP create composite resins giant

EUROPEAN PLASTICS NEWS

Published: July 18, 2014 10:13 am ET
Updated: July 18, 2014 10:22 am ET

Post Your Comments


Back to story


More stories

Image

Ferro sells another piece of its plastics business

December 19, 2014 3:33 pm ET

Ferro Corp. has sold its North American polymer additives business to a private equity firm for $154 million in cash.    More

Image

Alex Brands buys iconic Shrinky Dinks toys

December 19, 2014 3:15 pm ET

First Slinky, now Shrinky Dinks. What will toy and games investment firm Alex Brands buy next?    More

Image

Judge limits scope of jury verdict against JM Eagle

December 19, 2014 2:30 pm ET

A federal judge in Los Angeles said Dec. 18 that last year's jury verdict issued against J-M Manufacturing Co. — now JM Eagle — for...    More

Image

Jarden hiring for new plastics plant

December 19, 2014 1:45 pm ET

Consumer products conglomerate Jarden Corp. is hiring plastics technicians for a new operation in Erlanger, Ky.    More

Image

Antimicrobial polymers firm TiFiber launching pilot production in Ark.

December 19, 2014 10:58 am ET

TiFiber Inc., which makes synthetic compounds to control dangerous microorganisms, will locate a pilot production facility and its future company head...    More

Market Reports

Flexible Packaging Trends in North America

Our latest RESEARCH report examines trends in FLEXIBLE PACKAGING impacting the North American market including a review of economic conditions, key drivers of growth, materials pricing, M&A activity, sustainability challenges and the outlook for 2015.

Learn more

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events