DAMASCUS, Syria (June 24, 2010)—Baalbaki Group S.A., a Damascus-based independent polyurethane systems and polyurethane raw material supplier, has acquired the assets of the Turkish company Depur Kimya.
Baalbaki created a Turkish subsidiary, BCI Baalbaki Kimya Sanayi ve Ticaret A.S., and has begun selling polyurethane systems and providing comprehensive technical service to its clients in Turkey. That unit will start up its own product facilities in 2011, Baalbaki said.
The asset purchase and founding of the subsidiary are part of the Syrian company's expansion plans, following the implementation of affiliates in the United Arab Emriates in 2007 and Egypt in 2009, Baalbaki said.