Bayer MaterialScience to acquire the polyurethanes systems business of Dr. Delis AG

Wed, 21 November 2007

Bayer MaterialScience plans to acquire the polyurethanes business of Dr. D. A. Delis AG in Athens, Greece. Both parties have now signed a preliminary agreement. Ownership of the company is to be transferred to Bayer Hellas, with the business being integrated into the worldwide network of the polyurethanes systems houses of Bayer MaterialScience under the name BaySystems Hellas.

Closing is scheduled for the beginning of next year. Financial details of the transaction are not being disclosed. Bayer has worked with Dr. Delis for many years now. The company is supplying small and medium-sized enterprises in southeast European countries such as Greece, Romania, Bulgaria, Serbia and Cyprus. On conclusion of the takeover, Bayer will be the first major polyurethanes manufacturer to establish its own systems house business in these countries.

“The acquisition reflects the growing importance of the emerging markets in southeast Europe and further strengthens our commitment to customers in this region,” explains Peter Vanacker, head of the Polyurethanes Business Unit and member of the Executive Committee of Bayer MaterialScience. “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 southeast Europe will also benefit directly from fast and flexible technology transfer.”

Dr. Delis’ polyurethanes business activities focus primarily on rigid foams for the construction and insulation industries, but also on polyurethane molded foam and the footwear industry. The systems house is well known in these industries and can draw on extensive know-how and decades of experience.