Composites One, the North American supplier of composites raw materials and value-added services, is taking over Canadian-based Polynt Composites Distribution from Polynt-Reichhold Group, the North American manufacturer of thermoset resins, gel coats and other raw materials. Polynt Composites will continue to own its resin and gel coat blending operations.

Polynt Composites will continue to own and operate its resin and gel coat blending operations in Brampton, Ontario and Drummondville, Quebec, to provide these products to Composites One and the market. Polynt Composites is well-known throughout Canada.

Harold Visser, executive vice president Americas said, "This divestiture reflects Polynt-Reichhold's commitment to concentrate its resources on manufacturing industry leading resins, gel coats, and other specialties, while maintaining a critical channel to market through our important distribution partner, Composites One."

Leon Garoufalis, president and COO of Composites One commented, "Composites One has been committed to expanding our business by providing real value to our customers. By combining the talented and experienced people from both organisations, we are creating an even stronger platform to service Canadian customers who produce products using advanced and traditional composites products and processes. Our goal with this acquisition is to provide all of our customers in Canada with the products, support and service to help them to grow their businesses and be successful."