2012-06-20

LANXESS sets its sights on Turkey's growing market

Istanbul/Shanghai – Specialty chemicals company LANXESS plans to expand further in the Turkish market. It takes one important step in this direction today by officially opening its new subsidiary in Istanbul. LANXESS Kimya Ticaret Ltd. Şti. will manage the company’s business in this growing market in the future. LANXESS generated record sales in Turkey in 2011 amounting to some EUR 125 million, nearly triple the amount achieved in 2009.


 
"The establishment of our new subsidiary in Turkey represents another milestone on our global growth path. Turkey is tremendously important to LANXESS, not only because of its geographical location between East and West, but also as an engine for growth in the entire region," remarks Axel C. Heitmann, Chairman of the Board of Management of LANXESS AG. The company anticipates that the Turkish economy will grow between 4 and 5 percent a year between 2013 and 2016, significantly faster than Western Europe.


 
LANXESS markets its entire range of products in Turkey, from high-performance polymers and specialty chemicals to quality chemical intermediates. Activities focus on high-performance rubber products, rubber chemicals and high-tech plastics for the automotive sector, as well as color pigments for the construction industry. LANXESS previously organized its operations in the country via external distributors.


 
The most important sectors in Turkey for LANXESS are the automotive and tire industries. The company expects the automotive industry in Turkey to grow by 8.5 percent in 2013 and then 3.5 percent per year from 2014 to 2016. In the construction industry, LANXESS foresees growth rates of between 4 and 5 percent in the upcoming years.


 
The new company will initially start off with 20 employees under the management of Ömer Bakir, general manager of LANXESS Kimya Ticaret Ltd. Şti.


 
For more information about LANXESS in Turkey, go to www.lanxess.com.tr.

 


LANXESS is a leading specialty chemicals company with sales of EUR 8.8 billion in 2011 and currently around 16,800 employees in 30 countries. The company is at present represented at 49 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of plastics, rubber, intermediates and specialty chemicals. LANXESS is a member of the leading sustainable indices Dow Jones Sustainability Index (DJSI) World and FTSE4Good.

 


Forward-Looking Statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by LANXESS AG management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

 

Information for editors:

All LANXESS news releases and accompanying photo, video and audio material can be found at http://www.lanxess.cn or http://www.weibo.com/lanxess.

 

Information on chemical products from LANXESS can also be found in our Web Magazine at http://webmagazine.lanxess.cn.

 

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