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

HRS adding more North American production for hot runners

April 22, 2014 12:57 pm ET

An Italian tooling component supplier is set to open a new production plant in Grand Rapids, Mich. The HRS Flow Division of San Polo di Piace-...    More

Two Eastman buildings among 10 biggest energy savers in national contest

April 22, 2014 11:35 am ET

Two offices at the headquarters of Eastman Chemical Co. in Kingsport, Tenn., ranked in the Top 10 for energy efficiency in the latest Energy Star...    More

Image

Material Insights: Shell Chemical meets with residents

April 21, 2014 2:16 pm ET

Power outage at a PE plant and the return of a PVC feedstock plant after a fire on this week's Material Insights.    More

DuPont: Asia's food packaging market at a major transition point

April 21, 2014 1:26 pm ET

DuPont Co. touted its packaging innovations and applications, and updated the firm's commercial status at a media event two days before the Chinaplas ...    More

Officials warn China's PVC overcapacity will only get worse

April 21, 2014 3:47 pm ET

Despite worsening overcapacity, China still imports a million tons of PVC.    More

Market Reports

Thermoformed Packaging 2014 Market Review & Outlook North America

This in-depth report provides analysis and discussions of economic and political conditions, market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as strategies being implemented by thermoformed packaging companies. In addition, there are reviews of 25 leading thermoformers in the packaging segment, assessing their growth initiatives and performance metrics over 10 years.

Learn more

Automotive Market Review and Outlook 2014 The Americas

This 75-page report features in-depth analysis of the automotive industry for the Americas. It includes discussions of market trends, legislative/regulatory activity impacting production and threats as well as design strategies being implemented by the major automakers. Detailed charts and data tables outline North American automotive production over the last five years.

Learn more

Plastics Building & Construction Market Review and Outlook 2014 with MS Excel chart data

This report provides in-depth analysis of the plastic building and construction market for North America, including discussions of trends, opportunities, threats and the latest developments in construction trends that impact plastics processors.

Learn more

Upcoming Plastics News Events

May 6, 2014 - May 8, 2014Plastics in Medical Devices 2014

May 12, 2014 - May 12, 2014Plastics News Brazil Pharma Summit

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

February 3, 2015 - February 7, 2015Plastics News Executive Forum 2015

More Events