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India,Italy,Jordan,Nigeria,United Arab Emirates : BCI HOLDING bought a 70% stake in ITALIAN POLYSYSTEM.

Baalbaki Chemical Industries (BCI) Holding has announced that it has bought a 70% stake in Polysystem, an Italy-based manufacturer of polyurethane systems.

BCI Holding, an arm of locally-based Unimetco Holding, is involved in the manufacturing polyesters, pre-polymers, and specialty adhesives.

The company has planned to integrate its newly acquired business with BCI?Polyurethanes Europe, the European subsidiary of BCI Holding.

The company has set up its European arm in Italy with the Italian Dollmar Group.

BCI Holding has made provisioning of EUR 30 million ($32 million) for BCI-Europe and its investment plans for Europe.

The BCI Holding Chairman Ihsan Baalbaki revealed, Around 25 percent of the worlds demand for polyurethane systems comes from the surrounding area of the factory acquired in Italy.

He has further said that this move is a significant one to tap the opportunity of such a giant market as a solution provider.

Polyurethane, a composite material, is utilized to make foam seating, insulation panels, wheels and tires, adhesives, surface coatings, synthetic fibers, hard-plastic parts, and condoms, as well as hoses.

The Italian production plants are able to make over 20,000 metric tons of polyurethane systems. The facilities have been set up on a 7,000 square meter industrial property in the northern city of Vedano Olona, Italy.

In November 2015, BCI Holding commissioned its production facility in the UAE, which is situated on a 30,000 m2 industrial land.

The new manufacturing facility, with a built-up area of 15,000 m2, has facilitated addition of polyester polyols and pre-polymers output of 40,000 metric tons per annum.

BCI will be capable of delivering services to the markets of Gulf, India, and South East Asia professionally with this facility, stressed Baalbaki.

BCI Holding also operates its facilities in Egypt, in addition to business activities in the Turkish, Jordanian, Algerian, and Nigerian markets.

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Publication:Mena Report
Geographic Code:9INDI
Date:Jan 31, 2016
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