Baalbaki Chemical Industries (BCI) Holdings is the leading independent producer of polyurethane systems, polyester polyols and specialty adhesives in the Middle East and Africa regions. The holding owns manufacturing facilities in UAE, Egypt and Italy and technical service centers in Turkey, Algeria, Nigeria, and Jordan in addition to offices in Beirut and Shanghai.
Aiming to penetrate the European market, BCI stated that it has acquired 70% of the biggest player on the Italian market: Italian System House Polysystem. According to an interview with the Group’s CEO with L’Orient Le Jour, Hassane Baalbaki announced that a new Research and Development center will be implemented in Italy in the coming 6 months. During the same interview, Baalbaki revealed that BCI saw its activity increasing by 28% during 2015 following a 30% rise in the previous year. This mainly resulted from the expansion of the company in Pakistan and Turkey.
Italian System House Polysystem, part of Dollmar Group, is a polyurethane system company focused on rigid polyurethane systems. The manufacturing facilities are built on a 7,000 sqm industrial property in Vedano Olona, Italy with currently installed capacities to produce more than 20,000 MT of Polyurethane systems.
BCI could not disclose how much they paid for the investment as this is covered by a secrecy agreement. However, what they disclose is that BCI Holding SA has earmarked 30 Million Euros of capital for BCI-Europe and its European investment program.
