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News | LOTTE Advanced Materials

LOTTE Advanced Materials acquires Turkey’s No. 1 engineered stone maker 'Belenco'

01/17/2019


On Jan. 17, 2019, LOTTE Advanced Materials signed a formal contract to take over a 72.5 percent stake in Turkey’s No. 1 engineered stone producer Belenco (PEKER YÜZEY TASARIMLARI SANAYİ VE TİCARET A.Ş.).

Belenco is located in the Manisa Organized Industrial Zone (OIZ) in the vicinity of Izmir, one of the three major cities in Turkey. The company runs two production facilities, whose combined annual capacity is 230,000 sheets of engineered stone. Thanks to its proximity to the port of Izmir and natural mineral mines, Belenco is widely known as the leading quartz surfaces maker with efficient production and logistics networks.

LOTTE Advanced Materials can produce 90,000 sheets of engineered stone a year at its plant in Yeosu, South Jeolla Province in South Korea. With the acquisition of Belenco, the company plans to make additional facility investment and gain a foothold in the high-end interior material markets of developed countries including the United States in a bid to become one of the top five global players. The take-over is also expected to allow LOTTE to better meet customer needs with more diverse specialty products from the expanded production lines in South Korea and Turkey.

“With the take-over of Belenco, we will maximize synergistic effects by utilizing the sales infrastructure of LOTTE Advanced Materials’ overseas subsidiaries,” said Lee Ja-hyung, CEO of LOTTE Advanced Materials. “We will make utmost effort to stay ahead in the fast-growing engineered stone market by boosting sales and building up new production lines.”

Composed of 99.9% high-density natural quartz, Radianz by LOTTE Advanced Materials offers the sophisticated and refined beauty of natural stone, yet it eliminates the limitations of stone with state-of-the-art technical solutions. Its nonporous, scratch- and heat-resistant surface makes it an ideal material for both commercial and residential applications. South Korea's Incheon International Airport has won the title of the world's best airport for a record of 12 consecutive years, and its new high-tech Terminal 2 employed the colors of Radianz Surfaces in various installations ranging from floors, walls, countertops, to information desks. Radianz can also be found in many iconic buildings around the world, including LOTTE World Tower, London Heathrow Airport, JW Marriott, Walkerhill and InterContinental hotels.

 
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