UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington D.C. 20549

                                   FORM 10-K/A
                                 Amendment No. 1

[X]  Annual report  pursuant to Section 13 or 15(d) of the  Securities  Exchange
     Act of 1934


[ ]  Transition  report  pursuant  to  Section  13 or  15(d)  of the  Securities
     Exchange Act of 1934

                   For The Fiscal Year Ended December 31, 2001

                           Commission File No. 1-16263

                           MARINE PRODUCTS CORPORATION

         Delaware                                        58-2572419
 (State of Incorporation)                   (I.R.S. Employer Identification No.

                            2170 Piedmont Road, N.E.
                             Atlanta, Georgia 30324
                                 (404) 321-7910

                    Securities registered pursuant to Section
                               12(b) of the Act:

       Title of each class             Name of each exchange on which registered
  Common Stock, $0.10 Par Value                 American Stock Exchange
 (17,284,500 shares outstanding
    as of February 26, 2002)

 The aggregate market value of shares of common stock held by non-affiliates at
                       February 26, 2002 was $44,739,422.

                    Securities registered pursuant to section
                               12(g) of the Act:
                                      None

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days. [X] Yes [ ] No

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation  S-K is not contained  herein,  and will not be contained,  to the
best of registrant's  knowledge,  in definitive proxy or information  statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [X]

                       Documents Incorporated by Reference

Portions of the Proxy  Statement for the 2002 Annual Meeting of  Stockholders of
Marine Products  Corporation are  incorporated by reference into Part III, Items
10 through 13 of this report.


<PAGE>

Explanatory Note: The undersigned registrant hereby amends its Form 10-K for the
year ended December 31, 2001. This Amendment No. 1 on Form 10-K/A is being filed
to include,  as Exhibit 99.1, a letter to the Commission that the registrant has
received the required  representations  from its  independent  auditors,  Arthur
Andersen  LLP,  as  required  under   Temporary   Final  Rule  and  Final  Rule:
Requirements  for Arthur  Andersen  LLP  Auditing  Clients,  Temporary  Note 3T,
effective March 18, 2002.

     The registrant hereby amends Item 14 of the Form 10-K as follows:

Item 14.  Exhibits, Financial Statement schedules, and reports on Form 8-K

     The following documents are filed as part of this report.

<TABLE>
<CAPTION>
<S>                                                                                                     <C>
  FINANCIAL STATEMENTS
  Consolidated Balance Sheets as of December 31, 2001 and 2000                                          22
  Consolidated Statements of Income for the three years ended December 31, 2001                         23
  Consolidated Statements of Stockholders' Equity for the three years ended December 31, 2001           23
  Consolidated Statements of Cash Flows for the three years ended December 31, 2001                     24
  Notes to Consolidated Financial Statements                                                            25

  SCHEDULES
  Schedule II-Valuation and Qualifying Accounts                                                         39
</TABLE>


                                    EXHIBITS

Exhibit
Number         Description
-------        -----------------------------------------------------------------

3.1            Articles  of   Incorporation   of  Marine  Products   Corporation
               (incorporated  here in by reference to exhibit 3.1 to the Form 10
               filed on February 13, 2001).

3.2            Bylaws of Marine  Products  Corporation  (incorporated  herein by
               reference  to Exhibit  3.2 to the Form 10 filed on  February  13,
               2001).

4              Form of Common Stock  Certificate of Marine Products  Corporation
               (incorporated  herein by  reference to Exhibit 4.1 to the Form 10
               filed on February 13, 2001).

10.1           Marine  Products  Corporation  2001 Employee Stock Incentive Plan
               (incorporated  herein by reference to Exhibit 10.1 to the Form 10
               filed on February 13, 2001).

10.2           Agreement  Regarding  Distribution  and  Plan of  Reorganization,
               dated  February 12 2001,  by and  between  RPC,  Inc.  and Marine
               Products Corporation (incorporated herein by reference to Exhibit
               10.2 to the Form 10 filed on February 13, 2001).

10.3           Employee  Benefits  Agreement,  dated  February 12, 2001,  by and
               between RPC,  Inc.,  Chaparral  Boats,  Inc. and Marine  Products
               Corporation  (incorporated herein by reference to Exhibit 10.3 to
               the Form 10 filed on February 13, 2001).

10.4           Transition Support Services  Agreement,  dated February 12, 2001,
               by  and  between  RPC,  Inc.  and  Marine  Products   Corporation
               (incorporated  herein by reference to Exhibit 10.4 to the Form 10
               filed on February 13, 2001).

                                       2
<PAGE>

10.5           Tax Sharing  Agreement,  dated  February 12, 2001, by and between
               RPC, Inc. and Marine Products Corporation (incorporated herein by
               reference  to Exhibit  10.5 to the Form 10 filed on February  13,
               2001).

10.6           Compensation  Agreement  between James A. Lane, Jr. and Chaparral
               Boats, Inc.  (incorporated herein by reference to Exhibit 10.6 to
               the Form 10 filed on February 13, 2001).

21*            Subsidiaries of Marine Products Corporation.

23*            Consent of Arthur Andersen LLP.

24*            Powers of Attorney for Directors

99.1**         Letter  dated  March 27,  2002,  from  RPC,  Inc.  ("RPC") to the
               Securities and Exchange  Commission stating that RPC has received
               certain  representations from its independent public accountants,
               Arthur Andersen LLP.

-------------------
*    Previously filed.
**   Filed herewith.

REPORTS ON FORM 8-K.

     No reports on Form 8-K were required to be filed by Marine Products for the
quarter ended  December 31, 2001. Any schedules or exhibits not shown above have
been omitted because they are not applicable.



                                       3
<PAGE>


SCHEDULE II-VALUATION AND QUALIFYING ACCOUNTS

MARINE PRODUCTS CORPORATION and Subsidiaries (in thousands of dollars)
For the years ended December 31, 2001, 2000, and 1999

<TABLE>
<CAPTION>
<S>                                                 <C>                 <C>                <C>                   <C>
                                                      Balance at          Charged to              Net                Balance
                                                      Beginning            Cost and          (Write-Offs)/          at End of
Description                                           of Period            Expenses           Recoveries              Period
------------------------------------------------    --------------      ---------------    ------------------    -----------------

Year ended December 31, 2001                             $      67           $     ---          $      ----           $       67
     Allowance for Doubtful Accounts

Year ended December 31, 2000                             $      69           $     ---          $       (2)           $       67
     Allowance for Doubtful Accounts

Year ended December 31, 1999                             $      77           $     ---          $       (8)           $       69
     Allowance for Doubtful Accounts
</TABLE>





                                       4
<PAGE>

                                  SIGNATURES

     Pursuant to the  requirements of Section 13 of the Securities  Exchange Act
of 1934,  the  Registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.



                                   MARINE PRODUCTS CORPORATION


Dated:  March 27, 2002             By: /s/  Ben Palmer
                                       -----------------------------------------
                                        Ben Palmer
                                        Vice President, Chief Financial Officer
                                        and Treasurer





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