Lanxess sales down
Print Edition
GERMAN specialty chemicals company Lanxess yesterday reported that its 2015 sales in China were down 4.2 percent from a year earlier to 924 million euros (US$1.04 billion).
The Chinese market make up around 12 percent of the company’s global sales and downward selling prices mainly affected its performance polymers segment, said Chien Ming Cheng, CEO of Lanxess China. Chien said Lanxess will start operations of its new joint venture with Saudi Aramco to manufacture synthetic rubber from April 1. In the years ahead, Lanxess plans to invest some 400 million euros of the anticipated 1.2-billion-euro proceeds from the rubber transaction in organic growth.
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