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<SEC-DOCUMENT>0000914062-05-000073.txt : 20050131
<SEC-HEADER>0000914062-05-000073.hdr.sgml : 20050131
<ACCEPTANCE-DATETIME>20050131171837
ACCESSION NUMBER:		0000914062-05-000073
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050125
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050131
DATE AS OF CHANGE:		20050131

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MARINE PRODUCTS CORP
		CENTRAL INDEX KEY:			0001129155
		STANDARD INDUSTRIAL CLASSIFICATION:	SHIP & BOAT BUILDING & REPAIRING [3730]
		IRS NUMBER:				582572419
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16263
		FILM NUMBER:		05562829

	BUSINESS ADDRESS:	
		STREET 1:		2170 PIEDMONT ROAD NE
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30324
		BUSINESS PHONE:		4043212140

	MAIL ADDRESS:	
		STREET 1:		2170 PIEDMONT ROAD NE
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30324
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>mpc8k12505.txt
<DESCRIPTION>FORM 8-K
<TEXT>

- --------------------------------------------------------------------------------

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                        --------------------------------

                                    FORM 8-K
                        --------------------------------


                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(D) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

       DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JANUARY 25, 2005



                           MARINE PRODUCTS CORPORATION
             (Exact name of registrant as specified in its charter)
                            -------------------------

<TABLE>
<CAPTION>
<S>                                            <C>                                       <C>
               DELAWARE                                 1-6263                               58-2572419
     (State or Other Jurisdiction              (Commission File Number)                     (IRS Employer
           of Incorporation)                                                             Identification No.)
</TABLE>

                 2170 Piedmont Road, NE, Atlanta, Georgia 30324
               (Address of principal executive office) (zip code)

       REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (404) 321-7910


     Check the  appropriate  box below if the Form 8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

|_|  Written  communications  pursuant to Rule 425 under the  Securities Act (17
     CFR 230.425)

|_|  Soliciting  material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
     240.14a-12)

|_|  Pre-commencement   communications  pursuant  to  Rule  14d-2(b)  under  the
     Exchange Act (17 CFR 240.14d-2(b))

|_|  Pre-commencement   communications  pursuant  to  Rule  13e-4(c)  under  the
     Exchange Act (17 CFR 240.13e-4(c))

- --------------------------------------------------------------------------------



<PAGE>


ITEM 1.01  ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

Executive Officer Compensation

At its regularly  scheduled Board of Directors meeting held on January 25, 2005,
the  Compensation  Committee  approved  salary  increases and annual bonuses for
several  executives who were named in the registrant's 2004 proxy statement (the
"Named Executive Officers").

On January 25, 2005 the Compensation  Committee  approved the following  bonuses
for four of its Named Executive Officers:  President and Chief Executive Officer
- -  $150,000,  Chairman -  $200,000,  Chief  Financial  Officer  and  Treasurer -
$100,000, and Vice President and Secretary - $35,000. The Compensation Committee
also  approved an annual  salary  increase for the Vice  President and Secretary
from $80,000 in 2004 to $100,000 in 2005.

The executive  officers  named herein are also  executive  officers of RPC, Inc.
("RPC") and receive salary and bonuses from RPC.

Director Compensation

At this same meeting the Board of Directors approved the following  compensation
for the registrant's non-employee directors:

Retainer:          $4,000 per quarter
                   $3,000 additional per quarter for the Chairman of the Audit
                   Committee

Per Meeting Fee:   $1,000 per Board or Committee meeting (excluding Audit
                   Committee meetings)
                   $2,000 per Audit Committee meeting

Material Relationships

None of the  non-employee  directors and none of the Company's  Named  Executive
Officers has any material relationship with the Company or any of its affiliates
apart from their  respective  relationships as directors and/or employees of the
Company and its affiliates,  ownership of Company and affiliate securities,  and
as  otherwise  previously  disclosed  in the  Company's  last filed annual proxy
statement.

ITEM 9.01  FINANCIAL STATEMENTS AND EXHIBITS.

         (c)      Exhibits.

         None


                                       2
<PAGE>


                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, Marine
Products  Corporation  has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.


                                        Marine Products Corporation


Date: January 31, 2005                  /s/ Ben M. Palmer
                                        ----------------------------------------
                                        Ben M. Palmer
                                        Vice President,
                                        Chief Financial Officer and Treasurer




                                       3

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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