German specialty chemicals producer Lanxess (Leverkusen; www.lanxess.com) has established a subsidiary, Lanxess Kimya Ticaret, in Istanbul / Turkey as part of its plans to expand its market further in the country. The company, which is headed by Ömer Bakir, generated record sales of EUR 125m in Turkey in 2011, nearly three times the level achieved in 2009, and markets its full product range in the country. Lanxess anticipates that the Turkish economy will grow at between 4% and 5% annually between 2013 and 2016.

Lanxess CEO Axel Heitmann said: “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.”

The company said its most important sectors in Turkey are the automotive and tyre industries – it expects the automotive industry in Turkey to grow by 8.5% in 2013 and then 3.5% annually from 2014 to 2016. Technical rubber products are in high demand in the country’s automotive industry for use, for example, in components in vehicle engine compartments. The company’s rubber chemicals facilitate vulcanisation and protect rubber from premature aging and its performance rubber grades provide for greater safety, lower fuel consumption and lower CO₂ emissions, it said.