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[Press Release] LOTTE Chemical's Advanced Materials acquires Turkey’s No. 1 engineered stone maker 'Belenco'
2019.01.17
LOTTE Chemical reinforces the strategies
to target the specialty architectural material market
to target the specialty architectural material market
█ LOTTE Advanced Materials aiming at Top 5 Global Engineered Stone Manufacturers
by acquiring Belenco and making additional investment in facilities
█ Reinforcing the strategies to target the specialty architectural material market
LOTTE Advanced Materials, a subsidiary of LOTTE Chemical, announced that they will acquire 72.5% of Belenco, which has No. 1 market share in Turkey for engineered stone.
Belenco is located in OIZ Industrial Complex (3rd largest in Turkey) in Manisa, which is about 40 km from Izmir, one of three major cities in Turkey along the Aegean Sea. It boasts exceptional productivity and logistics efficiency, being adjacent to the Port of Izmir and natural ore mines, and already has facilities with two lines for 230,000 pieces.
LOTTE Advanced Materials proudly announced that the acquisition will bridge its business in the fast-growing high-end interior design markets of advanced countries, including the U.S.
LOTTE Advanced Materials has the capacity to manufacture 90,000 pieces of engineered stone in the Yeosu Factory in Korea and plans to be one of TOP 5 global manufacturers by making investments in Belenco. It will also create synergies with the affiliates, i.e., supplying high-end interior and exterior finishes to construction and hotel affiliates.
by acquiring Belenco and making additional investment in facilities
█ Reinforcing the strategies to target the specialty architectural material market
LOTTE Advanced Materials, a subsidiary of LOTTE Chemical, announced that they will acquire 72.5% of Belenco, which has No. 1 market share in Turkey for engineered stone.
Belenco is located in OIZ Industrial Complex (3rd largest in Turkey) in Manisa, which is about 40 km from Izmir, one of three major cities in Turkey along the Aegean Sea. It boasts exceptional productivity and logistics efficiency, being adjacent to the Port of Izmir and natural ore mines, and already has facilities with two lines for 230,000 pieces.
LOTTE Advanced Materials proudly announced that the acquisition will bridge its business in the fast-growing high-end interior design markets of advanced countries, including the U.S.
LOTTE Advanced Materials has the capacity to manufacture 90,000 pieces of engineered stone in the Yeosu Factory in Korea and plans to be one of TOP 5 global manufacturers by making investments in Belenco. It will also create synergies with the affiliates, i.e., supplying high-end interior and exterior finishes to construction and hotel affiliates.