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(Lanxess) -- Lanxess achieved a
record third quarter in 2011 due to ongoing strong demand especially for its
synthetic rubbers and high-tech plastics. The German specialty chemicals company
also reiterated its full-year outlook for EBITDA pre exceptionals to grow about
20 percent year-on-year and thus exceed the EUR one billion mark for the first
time in the company’s history.
In recognition of this historic achievement, Lanxess' Board of Management
has decided to increase the budget for the annual performance payment by an
additional EUR 20 million to a total of EUR 100 million for all eligible
employees worldwide.
Sales increased by 26 percent year-on-year to EUR 2.3 billion. Lanxess
increased prices in all segments in order to fully pass on higher raw material
costs. Volumes were stable and currencies were negative due to the weak
US-dollar. There were positive portfolio effects from recent acquisitions, above
all the Keltan EPDM rubber business.
Perspectives of development of polymer markets, pricing issues and other
important aspects will be discussed at The Polymers
Summit-2011, which will be held in Moscow on November 30, 2011 at the
Ritz Carlton Hotel. The Summit will be organized by MRC with the support of
ICIS. The main idea of the Summit is to find a "the golden mean" between
producers and converters. When producers receive exactly such margin of
production, which helps them to invest in production expansion in order to
substitute polymers imports, and the converters receive such price of feedstock
that helps them to compete imported finished products. The Summit site gives an
access to the live video of the Summit, speakers" presentations, as well as
opportunities to ask questions or make appointments to any Summit
partcipant.
mrcplast.com
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