Beruit, Lebanon -- Middle East and African polyurethane markets are looking positive for growth this year, according to Baalbaki Chemical Industries (BCI), its ceo told UTECH-polyurethane.com.
According to Hassan Baalbaki, BCI ceo, opportunity is increasing in Egypt despite the general instability within the Middle East – a belief that he said was demonstrated by his firm’s recent acquisition of polyurethane adhesive manufacturer Egycol, which we reported here.
According to Baalbaki “markets are developing, upcoming and promising.” He also said that the GDP in African markets is on the up. “We are preparing ourselves for the potential growth of these markets and are able to supply the north African markets as well as those in the east and west of the Africa, continent.
Turkey’s markets have already seen “significant development” over 2014, he said adding that his company had already set up warehouse facilities in the south of the country and hoped to have a third location in the country for servicing by the close of 2014.
In terms of the United Arab Emirates (UAE), Baalbaki said before 2015 the company planned to enter phase 2 and phase 3 of operations there which will allow BCI to serve its markets with esters pre-polymerisation and blends.” He said the plant, which would be operational by early 2015, is computer controlled.
2015 will also see BCI setting up in operations within the Jordan capital, Amman. Baalbaki predicted with hope that the reduction in raw material costs would perhaps stimulate more consumption due to the cost of goods being lower overall.