Wednesday 23 September 2020

Al Salam Bank backs OMP's take over of Bell Helmets

MANAMA, December 23, 2019

Al Salam Bank-Bahrain has announced its support to OMP Racing, one of the world's leading motorsport safety equipment company, in its acquisition of Bell Racing Helmets International, the world's top manufacturer of head protection for motorsport drivers.

The combination of OMP's extensive product line and Bell Helmets' world-renowned helmets gives the group an unrivaled and comprehensive product offering, said the Bahrain-based bank in its statement.

With the backing of Al Salam Bank, OMP Racing is planning to expand its operations in Bahrain including the manufacturing of a wide range of Bell and OMP branded products from the group's 2000+ product line, it stated.

The group's Bahrain headquarters in Sakhir will play a key strategic role in operations and R&D (research and development) and will be further supported by world class facilities and distribution networks in Italy, Belgium, and the US, it added.

The group's expansion plans confirm Bahrain's leading role in global motorsports and is expected to add 20% more jobs to Bell Helmets' current 193 workforce in Bahrain.

Exports from the group's local operations are also expected to exponentially increase, driven by Bahrain's strategic location and its trade agreements with several key trading partners.

Group President and CEO Paolo Delprato said: "The acquisition of Bell Helmets is the most important acquisition in OMP's 46-year history and marks a revolution in the field of motorsports safety equipment."

"OMP and Bell Helmets are two iconic brands with a rich history of innovation. Putting these two brands together creates the world's most important motorsports Group with tremendous potential for future growth," he noted.

"The role of Al Salam Bank in supporting us with the acquisition of Bell Helmets has been instrumental and we look forward to continue this strategic relationship in our efforts to grow in Bahrain and globally," he added.

Group CEO Rafik Nayed said: "Al Salam Bank-Bahrain is proud to be a strategic partner of OMP's acquisition of Bell Helmets, a company that supplied 11 out of 20 Formula 1 drivers with world-class helmets in 2019 including Lewis Hamilton, Kimi Raikkonen, and Charles Leclerc."

"The Group's expanded offering now combines the best global brands in motorsports safety equipment right here in Bahrain. Al Salam Bank is honoured to support the Group's future growth which will further cement Bahrain's position as a global motorsports hub," he added.-TradeArabia News Service


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