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Chemical Week Magazine :: Business & Finance :: Europe/Mideast
Higher Selling Prices Lift Second-Quarter Profits
3:37 PM MDT | August 22, 2011 | Kerri Walsh and Ian young
Late-reporting European chemical companies mostly posted strong second-quarter results and expressed optimism about the outlook for the rest of the year. Companies warn, however, that raw material costs continue to rise and say selling prices may not be able to keep pace with those cost increases. Lanxess reported improved sales and profits 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 ($260 million), on sales up 23%, to €2.2...
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