BERUIT, Lebanon—Baalbaki Chemical Industries Egypt said it will purchase Egyptian polyurethane adhesive manufacturer Egycol.
BIC Chairman Hassane Baalbaki said the firm had been importing adhesives manufactured outside the Egypt for some time to serve the local market.
With the addition of Egycol, the executive said BCI planned to become the No. 1 supplier of polyurethane and polychloroprene adhesives to Egypt and to use Egypt as a base to export to other African markets.
Baalbaki said that in October 2014 BCI started up its 15kT/year aromatic/aliphatic polyesters facility in Cairo and also a plant producing its full range of polyurethane systems with a capacity of 45kT/year.
BCI also plans to move its central technical service center to the United Arab Emirates, Baalbaki said.
The company has built a state of the art fully equipped lab and technical service centre in the Hamriyah Free Zone, Sharjah, which will be inaugurated early 2015, he said.
The integration work of Egycol is scheduled for completion by the end of 2014, Baalbaki said.