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Lanxess Cuts 2020 EBITDA Forecast
Lanxess Suspends Share Buyback Due To Corona Crisis
Lanxess Postpones AGM Due To Coronavirus Outbreak
LANXESS AG is a Germany-based company engaged in the chemicals sector. It specializes in the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. Its business activities are divided into four segments: Specialty Additives, responsible for manufacture of additives for the rubber and paint industries, among others; Advanced Intermediates, focused on the development of intermediates for the agricultural, plastics, chemicals, consumer goods, construction, tire and automotive industries, among others; Performance Chemicals, which offers material protection products, inorganic pigments, finishing agents for the leather industry and resins for water treatment, among others, and Engineering Materials, which produces technical plastics, glass fibers, fiber composites and elastomers on a urethane basis for application in the automotive, electronics and electrical engineering industries. It operates around 60 production sites worldwide.
Chemicals - Plastics & Rubber
Matthias L. Wolfgruber
Independent Chairman of the Supervisory Board
Chairman of the Management Board, Chief Executive Officer
Vice Chairman of the Supervisory Board, Employee Representative
Chief Financial Officer, Member of the Management Board
Member of the Management Board
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German specialty chemicals maker Lanxess <LXSG.DE> reported slightly stronger-than-expected quarterly profit on Wednesday, with firm demand for disinfectant ingredients offsetting a coronavirus-driven slump in engineering plastics.
German specialty chemicals maker Lanxess predicted a drop in its 2020 core profit because of the coronavirus outbreak and said it will focus this year on growth in protection products, including antiviral disinfectants.
German specialty chemicals maker Lanxess said on Monday it was trying to eke out higher production volumes of an antiviral disinfectant called Rely+On Virkon from its sites as China's coronavirus epidemic is boosting demand.
German chemical groups Bayer <BAYGn.DE> and Lanxess <LXSG.DE> have agreed to sell integrated chemical site operator Currenta to Macquarie Infrastructure and Real Assets (MIRA) <MQG.AX> for an enterprise value of 3.5 billion euros ($3.9 billion).
German chemical groups Bayer and Lanxess have agreed to sell chemical park operator Currenta to investor Macquarie Infrastructure and Real Assets (MIRA), the sellers said on Tuesday.
German specialty chemicals group Lanxess <LXSG.DE> reported a slightly better-than-expected second-quarter core profit on Friday and said it kept its 2019 outlook despite "economically uncertain times."
German speciality chemicals group Lanxess confirmed its 2019 earnings forecast on Tuesday less than a day after BASF warned profit would fall well below forecasts given the global economic slowdown and the U.S.-China trade conflict.
Germany's Lanxess said on Thursday weak demand from Chinese automakers for its plastics business, offset by a better outlook for agrochemical ingredients, would lead to flat operating earnings this year.
A court in Germany will initiate data theft proceedings in June to hear a case about a former employee at German chemicals maker Lanxess who is accused of stealing trade secrets with the aim of setting up a copycat chemical reactor in China.
Saudi Aramco has completed its acquisition of a 50 percent stake in Arlanxeo, its Netherlands-based joint venture with chemicals firm Lanxess, to become the full owner of the company, it said in a statement on Monday.
Standard Lithium Ltd said on Monday it had signed an agreement with Lanxess AG to build a pilot plant that will process lithium from Arkansas brine, part of an ongoing study on whether to develop a joint venture to produce the white metal.
Lanxess <LXSG.DE> Chief Executive Matthias Zachert is not available to become CEO of Thyssenkrupp <TKAG.DE>, a source familiar with the matter said, ending speculation that he could replace interim CEO Guido Kerkhoff.
The following bids, mergers, acquisitions and disposals were reported by 1500 GMT on Wednesday:
Germany's Lanxess <LXSG.DE> is selling its 50 percent stake in synthetic-rubber maker Arlanxeo to partner Saudi Aramco <IPO-ARMO.SE> for around 1.4 billion euros ($1.6 billion) in cash in a deal it said will give it more flexibility to grow.
Germany's Lanxess <LXSG.DE> raised its forecast for full-year earnings after higher product prices and cost cuts linked to the takeover of specialty additives maker Chemtura bolstered second-quarter results.
Lanxess's <LXSG.DE> water treatment business has attracted the interest of potential buyers since the German chemicals group put the unit on the block to streamline its portfolio, people close to the matter said.
Germany's Lanxess <LXSG.DE> has dropped out of a consortium bidding for Akzo Nobel's <AKZO.AS> speciality chemicals business, two people close to the matter said.
Germany's Lanxess has dropped out of a consortium that includes U.S. private equity firm Apollo in the bidding war for Dulux paint maker Akzo Nobel's specialty chemicals business, two people close to the matter said.
Germany's Lanxess <LXSG.DE> said full-year core earnings rose by almost 30 percent, driven by volume gains in specialty chemicals and also boosted by the takeover of U.S. peer Chemtura.
Germany's Lanxess <LXSG.DE> lifted the lower end of its earnings guidance range for 2017 after strong demand for specialty chemicals such as construction pigments and leather chemicals outweighed a weaker pesticide ingredients business.
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