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
Companies & Associations

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

Resin prices remain unpredictable

April 27, 2015 12:23 pm ET

Oil prices leveled off a bit in March, but North American commodity resin prices remained as unpredictable as ever.    More

Image

Dow Chemical bullish about prospect for global polyurethane markets

April 27, 2015 11:17 am ET

MAASTRICHT, THE NETHERLANDS — Glenn Wright, president of Dow Chemical Co.’s polyurethanes and formulated systems business, revealed that...    More

Image

PolyOne launches Geon BIO PVC using soy-based materials

April 24, 2015 11:48 am ET

More than a decade of research is paying off for Battelle Memorial Institute in the form of Geon BIO PVC compounds from PolyOne Corp.    More

Image

Study suggests infants at lower risk from BPA exposure than expected

April 23, 2015 4:58 pm ET

A new study shows that newborn babies may have less risk from bisphenol A exposure than originally thought.    More

Image

Braskem and Odebrecht reconsidering West Virginia plastics project

April 23, 2015 2:54 pm ET

Brazilian firms Braskem and Odebrecht have confirmed that they are re-evaluating Project Ascent, the major plastics and petrochemicals project they ha...    More

Market Reports

North American Thermoformed Packaging Market Outlook & Review 2015

Our annual report provides a thorough review and analysis of economic and political conditions, emerging market trends, packaging design advances, materials pricing and sustainable packaging issues impacting supply and demand in the TP segment. Our analysts identify key drivers of growth and opportunities for processors to remain competitive in the years ahead through innovation, production efficiencies and more.

Learn more

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 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

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

September 15, 2015 - September 17, 2015Plastics Caps & Closures - September 2015

More Events