On 5 March 2024, Polynt S.p.A., Groupe MV, Polyprocess and other minority shareholders of Polyprocess entered into a non-binding Memorandum of Understanding for the sale of Polyprocess to Polynt S.p.A. Polyprocess is a leading supplier of specialty gelcoats, color pastes and derivatives for the composites industry, with a long-standing history of excellence among customers and an outstanding quality record recognized in the composites world.
The parties have agreed to customary exclusivity undertakings, while the parties finalize their discussions and Polyprocess consults with their employee representatives on the proposed transaction. The contemplated transaction is expected to sign and complete by the end of April 2024 and also envisages the transfer to the Polynt Group of Polyprocess's production plant located in Saint-Jean-d'Illac, France.
Rosario Valido, Chief Executive Officer of the Polynt Group, said Polyprocess will complement the offering product portfolio of the Polynt Group, and that the synergy of Polyprocess technology and experience combined with the innovation leadership of Polynt Group will contribute to further growth in the industry, confirming Polynt's role as a key player.
Matthieu Castet, manager GMV, GMV CEO of Polyprocess, added that the project will give Polyprocess a new dimension, particularly worldwide, allowing the company to secure supplies but also continue to develop new ranges of products, combined with the recognized know-how of both companies, to maintain high standards of quality and innovation for the coming years.
Source: Polynt Group
