“Selena Group has been present in the Kazakh market since 1992. We started as a distribution business, mainly as an importer of mounting foams. During our almost 20-year presence in Kazakhstan, we have positioned the Tytan brand among the market leaders in the segment of polyurethane foams, silicone sealants and mounting adhesives. In 2016, Selena Group invested in a factory in Nur-Sultan, which now produces thousands of tons of tile adhesives and facade materials annually. Our turnover in this country has been growing steadily, and so is employment,” said Jacek Michalak, CEO of Selena Group, when talking about the company’s operations in the region.
Jacek Michalak, CEO of Selena Group
“Currency fluctuations, which are typical of the emerging market, are the only difficulty I see about investing in Kazakhstan. However, now that we’ve been operating here for almost 20 years, we have tried-and-tested modus operandi in place. Additionally, we are in talks with local banks about financing options to mitigate exchange rate risk,” Michalak explains.
Selena Group in Kazakhstan
“Kazakhstan is a key market for us. In recent years, it has been one of the two growth stars in our portfolio, next to the United States. Selena Group is present in 18 countries around the globe, from China, through to Russia, Central and Southern Europe, to Brazil. Kazakhstan is very well located. We treat this country as a strategic base for further expansion in this part of the world,” adds Jacek Michalak, CEO of Selena Group.