Built to inform

Sign up for the daily newsletters

No, Thank you

Lebanon's Baalbaki buys 70% of Italy's Polysystem

The Italian firm, a 'going concern', is a manufacturer of polyurethane systems

Baalbaki has acquired a polyurethane manufacturer. [Image: manufacturability.com]
Baalbaki has acquired a polyurethane manufacturer. [Image: manufacturability.com]

Baalbaki Chemical Industries, the chemicals subsidiary of Lebanese group, Unimetco Holding, announced it has acquired the 'going concern' of Italian polyurethane systems manufacturer, Polysystem.

A going concern is a company that has the resources needed in order to continue to operate indefinitely, according to Investopedia. If a company is not a going concern, it means the company has gone bankrupt.

BCI Holding will own 70% of Polysystem; however, additional financial details about the deal are yet to be disclosed. 

Group chairman of Baalbaki, Dr Ihsan Baalbaki, said: "The business will be integrated within our European subsidiary BCI‐Polyurethanes Europe, which we have established jointly with our local partners the Dollmar Group.

"With our polyester polyol integration; newly appointed and existing experienced management team; and long term dedication to the industry; we are ideally positioned to serve this market

BCI has manufacturing facilities in the UAE, Egypt, and Italy, and operates across the Middle East region. 

Most popular

Awards

New category open for consultancies at CW Awards 2019 in Dubai
Sub-Consultancy of the Year to be crowned for the first time at the gala ceremony

Conferences

Leaders UAE 2019: Pinsent Masons confirmed as Gold Sponsor
Law firm is among the major construction industry players confirmed as sponsors for Leaders UAE's
Leaders in Construction UAE Summit returns in Sept 2019
Dubai conference to see top officials discuss the people, trends, and challenges that will power

Latest Issue

Construction Week - Issue 747
Aug 03, 2019