BCI Holding acquires Italian system house Polysystem

BCI Holding SA (Baalbaki Chemical Industries), the speciality chemicals subsidiary of Lebanese Group Unimetco Holding SAL, announced that it has acquired the “going concern” of Italian polyurethane systems manufacturer Polysystem S.r.l. BCI Holding SA will own 70 % of the acquired business. Other financial details have not been disclosed.

Polysystem was established in the year 2000 and focuses on rigid polyurethane systems. The manufacturing facilities are built on a 7,000 m² industrial property in Vedano Olona, Italy, with currently installed capacities to produce more than 20,000 t/y of PU systems.

“The business will be integrated within our European subsidiary BCI-Polyurethanes Europe S.r.l., which we have established jointly with our local partners the Dollmar Group. We see a unique opportunity for a customer driven, solution provider of polyurethane systems to actively participate in growing polyurethane demand and applications in the European market. The resolutions of the COP 22 climate change conference further reinforce this conviction. If you draw a 1,000 km radius around our new plant in the Varese area you have around 25 % of the world’s demand for polyurethane systems. 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. If you have been long enough in this business you will know that independent system houses are a critical component of this industry’s long term sustainability and they are here to stay,” said Group Chairman Dr. Ihsan Baalbaki in a statement.

BCI Holding SA is a producer of polyurethane systems, polyester polyols and speciality adhesives in the Middle East and Africa regions. Through its various subsidiaries and partnerships, BCI has manufacturing facilities in the UAE, Egypt, and Italy; distribution and technical service centres in Turkey, Algeria, Nigeria, and Jordan and representative offices in Beirut and Shanghai.

Established in 1947 the Dollmar Group, an independent Italian family company, is a distributor of chemicals to various industries including: pharmaceuticals, coatings, adhesives, inks, and rubber. Dollmar is also a manufacturer of equipment and speciality products for surface metal treatment and surface conversion based on proprietary patented nanotechnology.