Bayer MaterialScience is to acquire the polyurethanes business of Dr. D. A. Delis in Athens, Greece.
Dr. Delis’ polyurethanes business activities focus primarily on the manufacture of rigid foams for the construction and insulation industries, as well as polyurethane moulded foam for the footwear industry. Dr. Delis supplies small and medium-sized businesses in southeast European countries such as Greece, Romania, Bulgaria, Serbia and Cyprus.
After the takeover, Bayer claims that it will be the first major polyurethanes manufacturer to establish its own systems house business in these countries.
Ownership of the company will be transferred to Bayer Hellas, and the business will be integrated into the worldwide network of Bayer MaterialScience’s polyurethanes systems houses under the name BaySystems Hellas. Bayer MaterialScience has been managing its entire polyurethanes systems business under the umbrella brand of BaySystems since March this year.
The deal is expected to close at the beginning of next year. Financial details of the transaction were not disclosed.