Milan, Italy – Baalbaki Chemical Industries (BCI), a Beiruit-based polyurethane systems company has bought the majority of Polysystem, based in Vedano Olona, Italy.
BCI has bought70% of the firm as a going concern, the balance is owned by Dollmar, an Italian chemical distributor. No financial details were disclosed.
Polysystem, located on a 7000m2 (1.7 acre) site, 50km (30 miles) NW of Milan, has around 20kT/year capacity for rigid foam systems, said Baalbaki.
It will be integrated within BCI Polyurethanes Europe, a limited company incorporated in Italy, said Baalbaki. Polysystem will continue to focus on systems for rigid polyurethane foams, said BCI. The firm added there is a bright future for these following the recent COP21 meeting in Paris.