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Peninsula Polymers Forms JV with CCP

Published on 2003-01-24. Author : SpecialChem

KANSAS CITY, MO.--Mr. Gholi Darehshori, President of Peninsula Polymers, Inc. (PPI), and Charles E. Bennett, CEO of Cook Composites and Polymers Co. (CCP), announced today the formation of their North America coatings distribution joint venture. The new entity will retain the name Peninsula Polymer, Inc., and is expected to continue to represent its existing principals, as well as to add other complimentary lines.

Existing PPI warehouse network and distribution coverage will be consolidated in areas where there may be current overlap with CCP, and will expanded wherever there may be incomplete geographic coverage.

Mr. Darehshori stated, "We are extremely excited about this partnership with a strong international, technically advanced coatings resin organization such as Cook Composites and Polymers. This venture will allow us to expand our product lines to include other CCP/Cray Valley coatings products, and extends our technical service capabilities to our customers." "Our primary focus," he added, "is to help our customers develop better products more cost effectively. Customers have come to expect an extremely high level of local service and technical support from PPI. The new venture is designed to retain and expand this fast response, service intense orientation while also delivering the national scope and operating economies of scale expected from a truly national distributor."

According to Mr. Bennett, "Peninsula Polymers has been our national coatings distributor since 1997. Both our organizations have been able to grow their presence in the coatings industry from this association, and we believe this closer relationship helps CCP strengthen and expand our sales initiatives. We fully expect to bring additional management support to PPI's organization and to capitalize on its excellent reputation for customer service."

"We believe PPI can be a strong platform," Mr. Bennett continued, "for expanding our coatings distribution network, and we look toward potentially consolidating other regional distributors where current Peninsula Polymers representation may need to be expanded. We have a very successful joint venture with Composites One, the world's largest composite and cast polymer distributor, and we believe that can serve as a model in our continued commitment to the North American Coatings Industry.

Our association with PPI will broaden our coverage and the package of products we offer to the Industry. We also believe this distribution channel will help us accelerate the introduction of new products to the industry--especially resins for powder coatings--that we either develop internally, or that are technologies we bring from other parts of the Cray Valley organization to the domestic market."

Peninsula Polymers, Inc. currently has nine distribution locations throughout the United States. In addition to Cook Composites and Polymers Co. products, Peninsula Polymers also distributes amino resins from Cytec, a line of epoxies and related products from NanYa and Pacific Epoxy Polymers, Inc. (both liquid and powder), and a full line of oils from Cargill.

CCP, a U.S.-based manufacturer of specialty chemicals, is part of ATOFINA, the chemical branch of TOTAL FINA ELF Group. With manufacturing facilities throughout the United States, Canada and Mexico, CCP is headquartered in Kansas City, Missouri. Along with ATOFINA associated companies Cray Valley and Sartomer, CCP is the second largest producer of coatings resins in the world, as well as the world's largest and leading producer of polyester gel coats; the company has the largest distributor network for composites and cast polymers in North America.

Source: CCP

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