| 05 Sep 2010 |
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Baalbaki Group acquires Turkish Depur Kimya as part of its expansion plan
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Beirut, 05 September 2010 - Baalbaki Group, a leading System House providing quality Polyurethane raw materials and specialty chemicals, expands its plans to include assets of the Turkish Depur Kimya in its most recent acquisition.
"We have created a Turkish subsidiary, BCI Baalbaki Kimya Sanayi ve Ticaret A.S., and started selling polyurethane systems as well as providing comprehensive technical service to our clients in Turkey," announced Hassan Baalbaki, the group's Managing Director. "This subsidiary will start up its own production facilities in 2011."
Baalbaki Group is already present in many countries in the region with offices and factories in Syria, UAE, Egypt and Lebanon, and over 800 employees.
Their core industrial activities are focused on the polyurethane raw material, construction, insulation, and packaging material industries. They are also involved in commercial activities which are mainly focused on the RHVAC (Refrigeration, Heating, Ventilation, and Air-conditioning) and automotive industries.
The group has also expanded into other industries such as real estate and is involved in many developments and renovation projects, as well as investments in commercial real estate.
"Throughout our 50 years of existence, we have remained loyal to our founder's diversification strategy and have thus maintained a real estate and investment arm," said Baalbaki. "This arm specializes in the development of commercial, industrial, and agricultural real estate projects as well as the management of an investment fund with an emphasis on financial institutions."
Baalbaki Group's building blocks to success are found in their three fundamental core values.
"A drive for investment in long lasting partnerships and relationships with our customers, suppliers, service providers and employees, is instrumental to our continuous success," explained Baalbaki. "As well as a solid commitment to a zero leverage financial strategy, and a passion for an entrepreneurial hands-on approach to development of new projects and investments"
The group's logo is a turtle which exemplifies their prudence and conservative entrepreneurship. This also goes hand in hand with their well-earned slogan of "Baalbaki, a partner for life".
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The Baalbaki Group itself was established in 1957, and today employs over 500 employees across the Middle East in its industry, trade, real estate, investment, and agriculture activities.
The ownership and management of the Baalbaki Group remains till today in family hands. Dr. Ihsan Bin Omar Baalbaki is the Chairman and General Manger of Unimetco Holding s.a.l., Baalbaki L.L.C., Baalbaki Group SA, and Baalbaki Real Estate & Investment. His sons Hassan and Zuheir, are the Managing Directors of Baalbaki LLC- Industrial Sector and Baalbaki LLC- Trade Sector respectively. Karim I. Baalbaki is Assistant General Manager at Baalbaki S.A.
Today, their core industrial activities are focused on the polyurethane raw material, construction, insulation, and packaging material industries; while their commercial activities are focused on the RHVAC (Refrigeration, Heating, Ventilation, and Air-conditioning) and automotive industries. We invite you to visit our individual pages for additional information.
Their main specialties are footwear systems, insulation, lamination adhesives, coal coating resins, varnishes, release agents and molded foam among others.
Baalbaki was first established in 1957 by Omar Baalbaki & Sons under the name Barada Metallic Industries Co. and was one of the first producers of domestic refrigerators, steel furniture, and home appliances in the Middle East region. Barada Metallic Industries was licensed by Mauser G.M.B.H. for steel furniture and Linde A.G. for refrigerators.
Upon the nationalization of Barada Metallic Industries in 1963, Dr. Ihsan Baalbaki moved to Beirut - Lebanon and reinitiated the Group's business activities by establishing a marketing consultancy firm under the name IMIC.
Since that time the Group has grown steadily and has witnessed the following major developments:
1963
Appointed as marketing consultant for more than 30 leading industrial concerns in the refrigeration industry including L'Unite Hermetique, Thyssen AG, Ugine Kuhlman, Pechinet/Rubanox, Saint Gobain etc...
1966
Established Baalbaki Real Estate & Investment Co. in Beirut - Lebanon and developed plot 2572 Ras Beirut
1973
Established in cooperation with L'Unite Hermetique and Pechinet a trading and confirming house under the name Unimetco sarl in Paris - France specialized in trading refrigeration components
1974
Participated in the establishment of Link-Seas U.K. the first global export specialized journal
1975
Purchased a 49% stake in A Grantham Limited-UK a world leader in the manufacture of army wear and accessories
1976
Established in cooperation with Ugine Kuhlmann a forane gas filling station in Damascus-Syria
1977
Acquired shares in BLOM Bank sal which is today the largest commercial bank in Lebanon with customer deposits exceeding USD 10 Billion. BLOM has branches and subsidiaries in France, Switzerland, UK, UAE, Syria, Jordan, and Egypt.
1978
Delegated by the Norwegian Export Council to promote and increase Norwegian exports to the Middle East and organized the first Norwegian Trade Fair in Amman-Jordan
1979
Acquired the franchise of Natalys, a French producer and distributor of children wear and accessories. Today, Natalys Lebanon has boutiques in Beirut, Tripoli and Elyssar
1980
Established the Norwegian Export Institution in Beirut - Lebanon in partnership with ASV Group and Fessil Group Norway
1983
Established in Syria, Lebanon and Jordan a distribution network with integrated retail outlets for refrigeration and air-conditioning components and equipment
1990
Established the Jordanian Exporter Company LLC and was delegated by the Jordanian Government to organize the First Amman International Trade Fair in cooperation with the European Common Market
1992
Established an Expandable Polystyrene Plant for block and shape molding in Damascus-Syria
1994
Established the first Polyurethane System House in the Middle East producing raw material for rigid, flexible, elastomer and integral skin Polyurethane Foam
1998
Organized in cooperation with Bayer A.G/P.U the first Middle East Polyurethane Symposium in Damascus-Syria
2000
Established a production unit for continuous flexible foam
2001
Purchased 500,000 sqm of farm land in Syria for the development of olive and apricot plantations
2003
Participated with BLOM Bank and the IFC in the establishment of Bank of Syria and Overseas (BSO). Baalbaki is the largest local share holder in BSO and is a member of BSO's Board of Directors
2004
Established the first saturated & aromatic polyester plant in the Middle East and Africa
2005
Finalized phase 1 of the construction of Baalbaki Industrial Zone on a 250,000 sqm plot of land. Phase 1 targeted the development of the zone's infrastructure as well as the construction of 50,000 sqm of covered area
2005
Commenced Construction of a Polyurethane System House in Hamriyah Free Zone Sharjah UAE.
2005
Participated with Arope Insurance SAL in the establishment of one of the first private insurance companies in Syria
© Press Release 2010
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