Lanxess expands operations in Turkey

Lanxess expands operations in Turkey

6:45 AM, 19th June 2012
Lanxess expands operations in Turkey
Axel C Heitmann, Chairman, Lanxess.

LEVERKUSEN, GERMANY/ISTANBUL, TURKEY: Lanxess opened a new subsidiary in Istanbul. The new subsidiary, Lanxess Kimya Ticaret Ltd, will manage the company’s business in the growing market in future. 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 per cent in 2013 and then 3.5 per cent per year from 2014 to 2016. In the construction industry, Lanxess foresees growth rates of between 4 and 5 per cent in the upcoming years.

“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,” said Axel C Heitmann, Chairman, Lanxess.

© WOC News 



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Praxair, Midrex develop direct reduced iron process technology

DANBURY, US: Praxair Inc and Midrex Technologies have signed an alliance agreement to develop and market new process technology for the production of ...

Read more
BP starts up Galapagos development

LONDON, UK: BP has begun the initial start-up of the Galapagos development in the deepwater US Gulf of Mexico, on 3 June 2012, one of a series of new ...

Read more
ECHA adds 13 new substances to EU candidate list

HELSINKI, FINLAND: The European Chemicals Agency (ECHA) has added thirteen new substances of very high concern (SVHC) to the candidate list under the ...

Read more
Carbon nanotube material, an alternative for platinum catalysts

OAK RIDGE, US: A newly developed carbon nanotube material could help lower the cost of fuel cells, catalytic converters and similar energy-related tec ...

Read more
ExxonMobil, Rosneft develop tight oil reserves in Western Siberia

TUAPSE, RUSSIA: Rosneft and ExxonMobil will jointly develop tight oil reserves in Western Siberia and establish a joint Arctic research centre for off ...

Read more
Unilever restructures Ewloe activities, shifts 400 jobs to India

BANGALORE, INDIA: The Unilever, a personal care major, is planning to move some jobs to Bangalore as part of a restructuring exercise that would invol ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X