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Lanxess's Third-Quarter Results Rise Sequentially; Expands Production in China
5:02 AM MST | November 12, 2009 | Kerri Walsh
Lanxess reported third quarter net income down 59%, to €23 million ($34 million), on sales down 24%, to €1.37 billion. Ebitda before special items fell 26%, to €143 million. Lanxess's results rose sequentially, however, because of an "improved macroeconomic environment worldwide, driven by China," and cost savings programs, the company says. Ebitda before special items rose 28% from the second quarter, on sales up 11%. A "slight" restocking in the third quarter occurred because customers in the performance polymers segment...
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