LEVERKUSEN, Germany (Nov. 20, 2007) — Bayer MaterialScience A.G. is acquiring the polyurethanes business of Dr. D.A. Delis A.G. in Athens, Greece.
The Greek firm supplies systems for rigid foams used in construction and insulation, as well as molded foam and footwear. Bayer MaterialScience said it will integrate the newly acquired business into its BaySystems Hellas unit.
Dr. Delis serves small and medium processors in southeast European countries such as Greece, Romania, Bulgaria, Serbia and Cyprus. Bayer MaterialScience said it will become the first major polyurethanes manufacturer to establish its own systems house business in these countries.
Financial details of the sale weren't disclosed. The acquisitions are expected to be concluded at the beginning of next year.