22.12.2019 – 18:00
Al Salam Bank-Bahrain Supports OMP Racing S.p.A. in the Acquisition of Bell Racing Helmets Group
Manama, Bahrain (ots/PRNewswire)
Al Salam Bank-Bahrain ("Al Salam Bank") announced its support to OMP Racing S.p.A. ("OMP"), the world's leading motorsport safety equipment company, in its acquisition of Bell Racing Helmets International ("Bell Helmets"), the world's top manufacturer of head protection for Formula 1 and motorsport drivers (collectively the "Group"). The combination of OMP's extensive product line and Bell Helmets' world-renowned helmets, having supplied 11 out of 20 Formula 1 drivers in 2019, including Lewis Hamilton, Kimi Raikkonen, and Charles Leclerc, gives the Group an unrivaled and comprehensive product offering.
The Group, which has worldwide presence through various brands and facilities, will enhance synergies between its entities with its Bahrain headquarters in Sakhir playing a key strategic role in operations and R&D. The Group's operations will be further supported by its world class facilities and distribution networks in Italy, Belgium, and the US.
Al Salam Bank, listed on the Bahrain Bourse and the Dubai Financial Market, will be the Group's key banking partner in its plans to further expand its operations in Bahrain to include the manufacturing and distribution of a wide range of Bell and OMP branded products from the Group's 2000+ product line. The Group's expansion plans for its Sakhir location is a continuing reaffirmation of Bahrain's leading and strategic role in global motorsports. The expanded services are expected to increase the Group's workforce in Bahrain to over 200 employees. Exports from the Group's local operations are also expected to exponentially increase, driven by the new synergies and Bahrain's strategic location, as well as the respective trade agreements Bahrain has with several of its key trading partners.
Paolo Delprato, President and CEO of the Group stated: "The acquisition of Bell Helmets is the most important acquisition in OMP's 46-year history and marks a revolution in the field of motorsports safety equipment. OMP and Bell Helmets are two iconic brands with a rich history of innovation. Putting these two brands together creates the world's most important motorsports Group with tremendous potential for future growth derived by strategic synergies. The role of Al Salam Bank in supporting us in the acquisition of Bell Helmets has been instrumental and we look forward to continue this strategic relationship in our efforts to grow in Bahrain and globally across various business verticals."
On this occasion, Rafik Nayed, Group CEO of Al Salam Bank-Bahrain stated: "We are proud to be a strategic partner of OMP's acquisition of Bell Helmets. The Group's expanded offering now combines the best global brands in Formula 1 and motorsports safety equipment right here in Bahrain. Al Salam Bank is honored to support the Group's future growth and contribute to further cementing Bahrain's position as a global motorsports hub."
Original content of: Al Salam Bank Bahrain, transmitted by news aktuell