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People & Business :: Earnings/Finance

Lanxess Confirms Full-Year Earnings Estimates

7:48 AM MDT | September 21, 2011 | Kerri Walsh

Lanxess has confirmed its full-year 2011 earnings estimates because of ongoing strong demand for synthetic rubbers. “As announced, we will increase our EBITDA pre-exceptionals by roughly 20%. The third quarter is going very well and will be better than the third quarter of last year,” says CEO Axel Heitmann.
 Lanxess’s announcement bucks a recent trend of chemical companies warning that second-half results will be below estimates because of slowing demand. Clariant earlier this month cut its full-year 2011 revenue and profit expectations...

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