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Lanxess achieved a record third quarter in 2011

November 10/2011

(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 companys 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.


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