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Lanxess to expand in Turkey with new subsidiary

06/07/2012


Chemical company Lanxess is expanding in Turky with a new subsidiary – Kimya Ticaret.
Lanxess generated sales in Turkey in 2011 of some €125m, nearly triple the amount achieved in 2009. And the company anticipates that the Turkish economy will grow between 4-5% a year between 2013 and 2016, faster than western Europe.
Automotive is one of the most important sectors in Turkey, expected to grow by 8.5% in 2013 and then 3.5%  per year from 2014 to 2016, says Lanxess. Construction, with expected growth rates of 4-5%, is also an area of focus.

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