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Chemical Week Magazine :: Business & Finance :: Europe/Mideast
Lanxess Confirms Full-Year Guidance
10:25 AM MDT | September 26, 2011 | —kerri walsh
Heitmann: Third quarter is going very well. 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%,” says CEO Axel Heitmann. “The third quarter is going very well and will be better than the third quarter of last year.” Lanxess’s announcement bucks a recent trend of chemical companies warning that second-half results will be below estimates because of slowing demand. Clariant cut its full-year 2011...
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