Lanxess reports strong results for 2010

ERJ staff report (DS)

Leverkusen, Germany -- Lanxess AG announced its results for the 12 months to December 2010. The company said sales rose 41 percent year-on-year to euro 7.1 billion, driven by strong volume growth and price increases. EBITDA pre exceptionals nearly doubled to euro 918 million.

In particular, said Lanxess, the synthetic rubber activities benefited from the German government's legislation to make the use of winter or all-season tyres compulsory in the winter months of the year.

Lanxess said, "Performance Polymers was the company's largest segment in 2010, with sales rising 58 percent year-on-year to EUR 3.8 billion. Top-line growth was driven by volume and price increases. The segment's EBITDA pre exceptionals more than doubled to EUR 585 million. The Butyl Rubber and Performance Butadiene Rubbers businesses benefited from the recovery in the tyre replacement and OEM market. The Technical Rubber Products and Semi-Crystalline Products businesses performed strongly due to the general upturn in demand and increased marketing activities."

The comapny referred to its proposed acquisition of DSM Elastomers' EPDM business, but gave no further informationon the proposed deal.

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Press release from Lanxess