The Polynt Group has announced its intention to acquire CCP Composites from TOTAL S.A., the French integrated oil and gas company.
Polynt wants to create a leading integrated specialty chemicals player specialised in Unsaturated Polyester Resins, a highly versatile resin with high demand across fibreglass reinforced plastics markets at a global level.
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.
Investindustrial’s goals, as the ultimately controlling shareholder, are to expand the overall business of the group, and the newly acquired business, by contributing its know-how in the specialty chemical sector, as well as funds for investment, ensuring job safety for all employees, while creating new employment opportunities in this specialist industrial sub-sector. The proposed acquisition by PCCR Inc. includes specific assurances for the employees of CCP Composites including the maintenance of employment and existing benefits.
The combination between PCCR Inc. and CCP Composites is an important step in the international development and expansion of the Polynt Group and we are convinced that this transaction will enable us to reinforce our innovative skills and to respond to our clients’ needs more effectively
This transaction is subject to the approval of the antitrust authorities.