LANXESS to set up a subsidiary in Turkey to expand its business

LANXESS announced that it has established a subsidiary in Istanbul, Turkey, to manage its business in Turkey. The new factory will employ 20 new employees at the beginning of its establishment.

LANXESS Management Board Chairman Axel C. Heitmann said that setting up a new subsidiary in Turkey is another milestone in the company’s global growth strategy. LANXESS expects that the annual economic growth in Turkey between 2013 and 2016 will increase by 4 to 5 percentage points, which is significantly faster than in Western Europe.

LANXESS's product range in Turkey includes high-performance polymers, specialty chemicals and high-quality chemical intermediates. The company's business mainly focuses on high-performance rubber products, rubber chemicals, high-tech plastics for the automotive industry, and pigments for the construction industry. Previously, LANXESS operated its business mainly in Turkey through external distributors.

Tyre and automotive industries are the most important business of LANXESS in Turkey. Lanxess expects that in 2013 Turkey's auto industry will grow by 8.5%.

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