Lanxess also posts recovery in Q1

ERJ staff report (DS)

Leverkusen, Germany -- Lanxess AG reported strong results and a return to profit for the three months to 31 March 2010

Group revenues showed a 53 percent increase on the disastrous first quarter of 2009, to Euro 1610 million while the company returned to the black, reporting net profits of euro 104 million compared with a loss of euro 14 million in Q1 2009.

In the performance polymers segment, Lanxess said sales rose 85 percent to Euro 828 million in the first quarter, driven by strong demand in China and Brazil. Above all, the positive trend was supported by the tyre replacement tyre business as well as customer restocking.

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Press release from Lanxess