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LANXESS Sets its Sights on Turkey's Growing Market - 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.com
LANXESS Sets its Sights on Turkey's Growing Market

 

PRZOOM - /newswire/ - Leverkusen, Germany, 2012/06/18 - 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.com. FRA: DE Frankfurt: LXS

   
 
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• Sales in Turkey have nearly tripled since 2009;
• New subsidiary established: LANXESS Kimya Ticaret Ltd. Şti;
• Focus on the automotive and tire industries.

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.

Technology partner to the automotive industry
Technical rubber products from LANXESS, the leading global supplier of synthetic rubber products, are in high demand in the Turkish automotive industry: the oil and ozone as well as waterproof and oxygen impermeable LANXESS products are used, for instance, in vehicle engine compartments. Here they ensure that cable insulation, (brake) hoses, seals, (drive) belts and other rubber components remain tight in spite of heat, strong temperature fluctuations and aggressive fluids. Rubber chemicals from LANXESS facilitate vulcanization and protect rubber from premature aging.

As technology leader in specialty chemicals, LANXESS further develops applications that make "Green Mobility” possible: used in premium tires with low rolling resistance, performance rubber grades from LANXESS provide for greater safety, lower fuel consumption and thus lower CO2 emissions. LANXESS also supports the trend towards lightweight construction in the automotive industry. Already today, high-tech plastics from LANXESS are making vehicles more lightweight, safer and more comfortable – and this trend is on the rise. Less weight and "Green Tires” mean lower emissions and reduced fuel consumption, and that is good for both the environment and consumers' wallets.

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

LANXESS (lanxess.com) 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.

 
 
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LANXESS Sets its Sights on Turkey's Growing Market

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LANXESS |
Contact: Frank Grodzki - LANXESS.com 
+49 214 30 40043 frank.grodzki[.]lanxess.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any LANXESS securities in any jurisdiction including any other companies listed or named in this release.

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