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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
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