Poliya Forms Strategic Partnership with Novaresine to Offer Wide Range of Composite Resins in Europe

Istanbul -- 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. Novaresines technical expertise, capacity, and high quality standards will allow us to expand our European market share."

This announcement marks another key milestone in Poliyas 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."

"For more information about Poliyas products and services available in the Central and Eastern Europe region, visit our booth G 47 at the JEC Composites Show in Paris from March 27th-29th, 2012.

About Poliya

Poliya Composite Resins and Polymers, Inc. (Poliya) was founded in 1983 and specializes in developing and manufacturing polymers and composite resins. Poliya is the fastest growing composite resin manufacturer in Europe. The company is best known for its flagship, high performance gel coat series, Polijel. The company also manufactures UPE- polyester resins, vinyl ester resins, pigment color pastes, solid surface chips, adhesives, bonding pastes, mold release agents and waxes. The company is a member of European Chemical Industry Council (CEFIC) Turkish Chemical Manufacturers Association (TKSD) and Turkish Composites Manufacturers Association. The company is headquartered in Istanbul, Turkey with offices in Germany, manufacturing facilities in both Europe and Asia and serves 23 countries throughout the world.

About Novaresine

Novaresine Ltd is a part of the Tenax Group, a group firmly established in the global chemical sector in various areas such as treatment and processing of stone materials, coating, construction, marine, adhesive and the owner of several important brands. Novaresine offers a wide range of resins including alkyd, thixo alkyds, urethane modified alkyd, epoxyester water borne, polyester and UV. Located in the Lazise province of Verona, Novaresine covers an area of 80,000 square meters and has dedicated, modern production facilities in line with their commitment to being among the industry leaders in the international markets coating sector with high performance.