Poliya Starts Polyester Resin and Gelcoat Production in Italy

Poliya announced it has signed a strategic partnership and manufacturing agreement with Novaresine, a Tenax group company. According to the agreement, starting in April 2012, Novaresine will produce Poliya brand products in Northern Italy production plants, which was previously operated by Hexion Specialty Chemicals.

This geographically strategic alliance will allow Poliya to provide Central and Eastern Europe customized polyester resins and high performance, custom colored gelcoats with improved logistics, faster response times, reduced lead times and lower costs over all.

Commenting on this announcement, Buelent Oeztuna, CEO of Poliya, stated, "We are very pleased to have Novaresine as the exclusive manufacturer of Poliya products. As the demand for our products continue to grow almost, it is imperative that we have a partner that share the same values. Novaresine's technical expertise, capacity, and high quality standards will allow us to expand our European market share."

This announcement marks another key milestone in Poliya's regional growth following the 2011 acquisition of Cam Elyaf Resins.

“Novaresine has demonstrated an expertise in polymer manufacturing, production capabilities and process design,” said Stefano Fioratti, CEO of Novaresine, “we are are excited about the potential of this collaboration with Poliya and anticipate beginning production in the second quarter, 2012.”