Ashland Production/Distribution Agreement with Boytek Resins of Turkey

23 April 2010

Ashland Performance Materials has agreed with Boytek Resins of Istanbul, Turkey, to enter into a toll manufacturing and two-way distribution relationship.

Boytek currently serves as a distributor for Ashland’s Derakane epoxy vinyl ester resins in Turkey.

Under the proposed agreement, Boytek will produce Ashland’s Aropol unsaturated polyester resins at its manufacturing facility in Cerkezkoy Tekirdað, Turkey. Boytek also will add Ashland’s Maxguard gelcoats, Aropol pultrusion resins and Hetron fire retardant resins to its distribution portfolio in Turkey. Ashland will now offer Boytek resins in addition to its own extensive resin and gelcoat product portfolio to customers throughout Europe, with specific focus on Central Eastern Europe.

“Boytek has developed a strong reputation in the region as a high quality producer of resins and gelcoats, making this a good fit for Ashland,” said Stefan Osterwind, commercial director, Ashland Performance Materials, EMEA and India. “With manufacturing capabilities central to strategically important growth markets in the region, this is a major step forward in supporting Ashland’s strong commitment to serving composites manufacturers, specifically in Central Eastern Europe.”

“We believe that this cooperation will open up new horizons to both Ashland and Boytek,” said Ismail Darcan, founder and CEO of Boytek. “We hope this will be the first step to build an even stronger partnership that will be beneficial not only to both companies, but also, and most importantly, to the composites industry.”

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