Lanxess posts strong growth in Greater China

By Nina Ying Sun
Assistant Managing Editor

Published: August 13, 2012 6:00 am ET

Related to this story

Topics Materials, Suppliers

LEVERKUSEN, GERMANY (Aug. 13, 1:50 p.m. ET) — Lanxess AG reported second quarter sales of 300 million euros ($370.5 million) in Greater China, showing a 31 percent year-on-year increase. During the same time period, the company achieved 8.1 percent sales growth globally, 24 percent in Asia and 14 percent in the five BRIC countries.

Martin Kraemer, CEO of Lanxess Greater China, said the company continues to benefit from the “mobility megatrend.” He said sustainable solutions were needed to master the challenges associated with this trend, such as the growing burden on the environment. It has declared “Green Mobility” – meaning eco-friendly mobility – its key theme for 2012.

The Leverkusen-based company is organizing Mobility Day China in Shanghai on Sept. 6, expecting to share ideas and explore sustainable solutions with 300 participants from industry, academia and associations.

Lanxess generated 563 million euros ($695 million)  in sales in Greater China during the first half of this year.

Globally, second quarter sales increased 8.1 percent to 2.42 billion euros ($2.99 billion), EBITDA pre exceptionals rose 6.8 percent to 362 million euros ($448 million), but net income declined by 2.8 percent 176 million euros ($217 million), due to reorganization measures in the Performance Chemicals segment, the company said in a news release.

The company owes second quarter sales growth to currency variations and price increases. Even after adjusting exchange-rate effects and portfolio changes, China growth reached 19 percent.

For the second half of 2012, Lanxess CEO Axel C. Heitmann said he expects the operating results to be “at the prior-year level” with moderate growth from Asia and Latin America.


Comments

Lanxess posts strong growth in Greater China

By Nina Ying Sun
Assistant Managing Editor

Published: August 13, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Celanese buys conductive polymer supplier

October 21, 2014 4:31 pm ET

Materials firm Celanese Corp. has acquired most of the assets of conductive polymers maker Cool Polymers Inc. for an undisclosed price.    More

Image

Asia continues driving sales for Engel

October 21, 2014 2:42 pm ET

The number seven seems to be special for European plastics machinery makers at the moment — injection press giant Engel Holding GmbH said Oct....    More

Image

BASF targets coffee and automotive connoisseurs with new resin grades

October 21, 2014 2:07 pm ET

BASF SE is using polybutylene terephthalate (PBT), which is normally used to manufacture high-end electronics, in a food consumer packaging product.    More

Image

Trexel charges patent infringement against Taiwan company

October 20, 2014 3:25 pm ET

Trexel Inc., the supplier of the MuCell microcellular foaming technology, is accusing a Taiwanese company, Chuan Lih Fa Machinery Works, of violating ...    More

Materials firm realigns business divisions

October 20, 2014 1:23 pm ET

Trinseo S.A., formerly known as Styron L.L.C., is realigning its business divisions, creating two new business groups — Performance Materials an...    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events