Lanxess opens Turkish subsidiary

The tyre and automotive sectors are Lanxess’ most important in Turkey, and the company aims to further expand in this growing market. On 18 June the specialty chemicals firm took what it calls an “important step in this direction” with the official opening of its new subsidiary in Istanbul. In future, Lanxess Kimya Ticaret will manage the company’s business in Turkey, a market where it generated record sales of some 125 million euros in 2011, nearly triple the firm’s 2009 result. The new company will initially start off with 20 employees and is headed by general manager Ömer Bakir.

“The establishment of our new subsidiary in Turkey represents another milestone on our global growth path,” stated Lanxess Board of Management chairman Axel C. Heitmann. “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.” Lanxess anticipates the Turkish economy will grow between four and five per cent per annum between 2013 and 2016, significantly faster than Western Europe.

Lanxess markets its entire product range in Turkey, from high-performance polymers and specialty chemicals to quality chemical intermediates. The company’s activities focus on high-performance rubber products, rubber chemicals and high-tech plastics for the automotive sector, as well as colour pigments for the construction industry. Lanxess previously organised its operations in the country via external distributors.

As already mentioned, the tyre and automotive industries are Lanxess’ most important sectors in Turkey. The company expects Turkey’s automotive industry in Turkey to grow by 8.5 per cent in 2013 and then 3.5 per cent per year from 2014 to 2016.