Tire market deflates for Lanxess after successful 2012

ERJ staff report (BC)

Leverkusen, Germany – Lanxess has forecast a larger-than-estimated fall in profits for the current quarter due to weak demand from the tire and automotive industries.

Earnings before exceptionals is predicted to fall to between €160-180m in the quarter, the German speciality chemicals company said. That compares with €369m a year earlier. “In this persistently volatile environment, Lanxess will continue to focus on cost discipline and its proven flexible asset management,” the company said in the statement.

Looking back at 2012 Lanxess reported sales growth…

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