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Lanxess Results Rise on Higher Selling Prices, Improved Demand from Auto Sector

5:46 AM MDT | August 11, 2011 | Kerri Walsh

Lanxess reported improved sales and profits for the second quarter, helped by higher selling prices, and higher demand for synthetic rubber and high-tech plastics from the automotive and tire sectors. Net income jumped 38%, to €181 million, on sales up 23%, to €2.2 billion. Lanxess says it has raised its outlook for full-year 2011 Ebitda pre exceptionals because of the strong second quarter results. The company now expects Ebitda pre exceptionals to grow about 20% from year ago levels, up from its previous estimate of 10%-15%. The company earned...

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