Bayer to acquire Greek polyurethanes business
In an attempt to expand its presence in south-east Europe, Germany’s Bayer MaterialScience has signed a preliminary agreement to acquire the polyurethanes business of Greece’s Dr D. A. Delis AG. The company, which has worked with Bayer for many years, supplies small- and medium-sized enterprises in south-east European countries such as Greece, Romania, Bulgaria, Serbia and Cyprus.
Commenting on the deal Peter Vanacker head of the Polyurethanes Business Unit at Bayer MaterialScience said, “The acquisition reflects the growing importance of the emerging markets in south-east Europe and further strengthens our commitment to customers in this region. Our worldwide BaySystems network enables us to launch the latest polyurethane innovations and applications onto the market quickly and easily. In future, our customers in south-east Europe will also benefit directly from fast and flexible technology transfer.”
Upon closing the acquisition, which is scheduled for the beginning of next year, ownership of the company will transferred to Bayer Hellas and will be integrated into Bayer MaterialScience’s worldwide network of the polyurethanes systems houses under the name BaySystems Hellas. No financial details were disclosed.
