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Lanxess Posts a Net Loss

12:50 PM MDT | April 3, 2009

Lanxess recorded a net loss of €41 million ($55 million) for the fourth quarter of 2008, compared with a net profit of €5 million in the year-ago period. Sales fell slightly, to €1.46 billion. Demand fell sharply as a result of the global economic crisis, Lanxess says. Sales were helped by the first-time inclusion of the former Petroflex elastomers business in Brazil and by the application of a price-before-volume strategy, the company says. Results for the first quarter of 2009 “will be no better than the fourth quarter of 2008,”...

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