Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Tire
    • Airless Tires
    • Non-Tire
    • More News
    • Suppliers
    • Silicone
    • Latex
    • Technical Notebooks
    • Opinion
    • Online Exclusive
    • Special Reports
    • Automotive
    • Executive Action
    • Government/Legal
    • Sustainability
    • Blogs
      • Products
      • Wacky World of Rubber
    • Best Places to Work
    • War in Ukraine
    • Rubber Division IEC
    • ITEC
    • Women Breaking the Mold
  • PFAS
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • PFAS Live
    • Ask the Expert
    • International Tire Exhibition & Conference (ITEC)
    • Women Breaking the Mold Networking Forum
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
November 10, 2016 01:00 AM

Lanxess reports third quarter growth

Rubber & Plastics News Report
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    COLONGE, Germany—Lanxess A.G. reported a 1.6 percent decrease in sales, but net income increased by 51.2 percent compared to 2015.

    In its third quarter financial report released Nov. 10, Laxness' disclosed sales of $2.09 billion, compared to $2.13 billion in 2015, and net income of $67.5 million, up from $44.7 million.

    “We took the momentum from the first half of the year into the third quarter and delivered renewed proof of the operational strength of new Lanxess,” CEO Matthais Zachert said in a statement.

    Lanxess continued to be busy on the acquisition front in the third quarter. It closed its deal to acquire the Clean and Disinfect business of Chemours on Aug. 31 and at the end of September reached an agreement to acquire Chemtura Corp. in a deal that projects to triple the size of its additives business.

    The transaction still needs to be approved by Chemtura's shareholders and the relevant antitrust authorities and is subject to the standard conditions applying to such transactions. Lanxess said closing is expected sometime in mid-2017.

    Despite the big acquisition, Lanxess said its net financial liabilities remain low at $221.1 million.

    Sales volumes increased across all three of Lanxess business segments. In Advanced Intermediates, sales decreased slightly, by 1.1 percent to $479.2 million. High Performance Materials also experienced a slight decrease in sales, by 2.3 percent to $279.9 million. Performance Chemicals, however, reported a 3.2 percent sales increase to $589.3 million thanks to the integration of the Chemours business.

    Arlanxeo A.G., the firm's 50-50 joint venture with Saudi Aramco comprising of Lanxess' synthetic rubber business units, reported a 5.3 percent decrease in sales to $735.2 million. Good demand from the automotive segment in Asia was offset by price declines resulting from raw material costs.

    Lanxess consists of 16,700 employees and 54 production sites in 29 countries, reporting about $8.61 billion in sales for 2015.

    Related Articles
    Lanxess boosts additives business with Chemtura acquisition
    Lanxess to acquire Chemtura for $2.5 billion
    Lanxess showcasing rubber-preserving products
    A look at chemical, additive suppliers
    Water a critical market for chemicals
    Price pressure tips Arlanxeo sales down
    Arlanxeo upgrades Texas EPDM plant
    Supply side economics: Firms launch initiatives Chemours strengthens Viton bran…
    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    Updated: UAW expands strike on Ford, GM
    2
    Freudenberg works to reduce CO2 footprint in facilities, compounding ingredients
    3
    UAW strike prompts smaller suppliers to seek federal aid
    4
    Egypt investors propose $1 billion tire plant project
    5
    Analysis: UAW strike just one issue to watch in auto industry
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • News
      • Tire
      • Airless Tires
      • Non-Tire
      • More News
        • Automotive
        • Executive Action
        • Government/Legal
        • Sustainability
        • Blogs
          • Products
          • Wacky World of Rubber
      • Suppliers
      • Silicone
      • Latex
      • Technical Notebooks
      • Opinion
      • Online Exclusive
      • Special Reports
        • Best Places to Work
        • War in Ukraine
        • Rubber Division IEC
        • ITEC
        • Women Breaking the Mold
    • PFAS
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • International Tire Exhibition & Conference (ITEC)
        • Women Breaking the Mold Networking Forum
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
      • PFAS Live
      • Ask the Expert
    • Advertise
    • DIGITAL EDITION