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

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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