Baalbaki Group acquires Turkish firm
Beirut, September 5, 2010
Baalbaki Group, a leading Lebanese provider of Polyurethane raw materials and specialty chemicals, has acquired Turkish firm Depur Kimya as part of its regional expansion plans.
Baalbaki Group has a major presence in the region with offices and factories in Syria, UAE, Egypt and Lebanon, and over 800 employees. Its core industrial activities are focused on the polyurethane raw material, construction, insulation, and packaging material industries.
The Lebanese group is also involved in commercial activities which are mainly focused on the RHVAC (Refrigeration, Heating, Ventilation, and Air-conditioning) and automotive industries.
“We have created a Turkish subsidiary, BCI Baalbaki Kimya Sanayi ve Ticaret A.S., and started selling polyurethane systems as well as providing comprehensive technical service to our clients in Turkey,” said Hassan Baalbaki, the group’s managing director.
“This subsidiary will start up its own production facilities next year, he added
According to Baalbaki, the group has also expanded into other industries such as real estate and is involved in many developments and renovation projects, as well as investments in commercial real estate.
“Throughout our 50 years of existence, we have remained loyal to our founder's diversification strategy and have thus maintained a real estate and investment arm,” he remarked.
“This arm specializes in the development of commercial, industrial, and agricultural real estate projects as well as the management of an investment fund with an emphasis on financial institutions,” he added.-TradeArabia News Service