Total's CCP Composites business to be acquired by Polynt
Mary Page Bailey
The Polynt Group, a producer of polymer intermediates and specialties, and an Investindustrial portfolio company, has announced its intention to acquire CCP Composites from Total S.A. (Courbevoie, France; www.total.com), the French integrated oil-and-gas company. CCP Composites manufactures unsaturated polyester resins, gelcoats, vinyl ester and other derivatives and distributes products and services to the composites industry. Through the combination, Polynt aims to create a leading integrated specialty-chemicals player focused on unsaturated polyester resins (UPR).
UPR are versatile resins with high demand across fiberglass reinforced plastics markets at a global level. The major industries for UPR are building and construction, automotive, transportation, aviation, pipes and tanks, marine, wind energy, and electronics.
In order to implement this transaction, PCCR USA, a wholly owned subsidiary of the Polynt Group, has submitted a binding offer for the purchase of CCP Composites from TOTAL S.A.