Pearl Polyurethane, the leading system house covering the Middle East and North Africa, has appointed a new CEO as part of an ambitious growth plan to double the size of the Dubai-headquartered company and expand internationally over the coming five years.
Former Bayer executive, Martin Kruczinna, who took up the CEO’s role in February 2021 recently oversaw a buyout deal that saw Dubai-based parent entity, Pearl Overseas Industries Ltd, sign an agreement to acquire the remaining 51 percent shareholding in the company. It acquired the additional shareholding from its former German joint-venture partner, Covestro AG.
The deal was completed on July 26 with Pearl putting a long-term supply and technical service agreement in place with manufacturer Covestro to ensure consistency of supply to existing and new clients.
The newly independent company, now known as Pearl Polyurethane Systems LLC, is poised to leverage its past successes under the growth plan detailed by Kruczinna.
Operating for over 25 years, the company has supplied polyurethane insulation foam systems for several trailblazing projects in the Gulf region, including Palm Jumeirah, Downtown Dubai, and Ski Dubai in Mall of the Emirates.
Pearl Polyurethane offers a comprehensive range of polyurethane formulations and prepolymers for the production of high-performance polyurethane foams and elastomers.
