Leverkusen, Germany - Bayer MaterialScience is buying the polyurethanes business of Dr D. A. Delis AG in Athens, Greece.
Ownership will transfer to Bayer Hellas, and the business will be integrated into Bayer MaterialScience's systems houses network as BaySystems Hellas.
No financial details of the deal, expected to be closed at the beginning of next year, were released.
Bayer's 19 Nov statement said the group has worked with Dr Delis for many years. The Greek company supplies small and medium enterprises in southeast European countries such as Greece, Romania, Bulgaria, Serbia and Cyprus. Bayer claims that it will become the first major polyurethanes manufacturer to establish its own systems house business in these countries.
Peter Vanacker, head of the Polyurethanes Business Unit at BMS pointed out in the company statement that the purchase indicates the growing importance of these emerging markets in southeast Europe: "Our worldwide BaySystems network enables us to launch the latest polyurethane innovations and applications onto the market quickly and easily," he said, adding that in future southeast Europe processors will be able to reap the benefit of such technology transfer.
According to BMS, Dr Delis' is well known for supplying systems for rigid foams for construction and insulation, as well as moulded foam and footwear.
BMS has been busy this year expanding its systems business globally. It inaugurated a systems house in Thailand on 29 Oct and in the US added Phoenix, Arizona-based spray systems business UCSC to its operations in early November. Meanwhile, in June the group inaugurated a system house in Greater Noida, in India.
Its systems houses in EMEA (Europe, Middle East, and Africa) includes BaySystems BÜFA GmbH & Co. KG for the German market and BaySystems Northern Europe A/S for Scandinavia, the Baltic countries, and northern parts of eastern Europe. BaySystems CentralEurope covers central Europe, BaySystems RUS the CIS countries, while BaySystems Italia SpA handles Italy. BaySystems Iberia deals with the Iberian peninsula, BaySystems Pearl the Middle East, and the group also has a systems house in Nigel for southern Africa.