Skip to main content
Sister Publication Links
  • Rubber & Plastics News
Subscribe
  • My Account
  • LogIn
  • News
  • Technology Focus
    • Features
    • Technical Papers
    • Analysis: Rubber mixing plants of the future
      Analysis: US probes dumping by ESBR suppliers
      Opinion: Tire labels stuck in a rut
      Analysis: NR pricing takes one step forward, two steps back
    • White paper: Role of tire innerliners in improving 'in-use rolling resistance'
      White paper: Why tire air retention matters now more than ever
      Nippon Soda: Use of 1,2-polybutadiene in CSM rubber applications
      Elastomers for Sustainability Top 10
  • Events
    • ERJ Events
    • ERJ Livestreams & Webinars
    • Industry Events
    • Journey to Automation Awards 2020
      Sustainability: Top 10 E4S projects table
  • Maps & Reports
  • People
  • Directory
  • Digital Edition
  • Brainiac
MENU
Breadcrumb
  1. Home
  2. News
November 19, 2013 12:00 AM

Lanxess says auto market has bottomed out

ERJ Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    ERJ staff report (TP)

    Cologne, Germany − Lanxess, the world's largest maker of synthetic rubber, believes that the European automotive market has bottomed out, chief executive Axel Heitmann was quoted as saying in an interview published yesterday (18 November), reported Maria Sheahan for Reuters.

    "The current historically low registration figures will be history soon. We believe that the trough has been reached," Heitmann told Handelsblatt Online in an interview.

    Lanxess last week posted a drop of more than a quarter in adjusted core earnings, hurt by lower prices for synthetic rubber for tires and weak currencies in some of its export markets.

    But car sales in France, Spain and Germany picked up in October driven by a surge in demand for compact vehicles, signalling a cautious rebound as the euro zone economy recovers slowly.

    Heitmann told Handelsblatt Online that Lanxess was still posting robust earnings in its businesses that were not related to the car industry.

    "But they cannot make up for what is happening in rubber markets right now," he said, adding that prices for products used to make car tires had dropped by as much as 20 percent.


    This is an external link and should open in a new window. If the window does not appear, please check your pop-up blocking software. ERJ is not responsible for the content of external sites.

    Full story from Reuters

    RECOMMENDED FOR YOU
    China’s 11-month tire production records first growth in 2020
    China’s 11-month tire production records first growth in 2020
    ANRPC notes rubber price recovery
    ANRPC notes rubber price recovery
    Biesterfeld to supply Denka acrylate rubbers
    Biesterfeld to supply Denka acrylate rubbers
    Free Newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Get the latest news impacting the European rubber industry, from breaking news to razor-sharp analysis, in print and online.

    Subscribe now
    Connect with Us
    • LinkedIn
    • Twitter
    • Youtube

    Logo
    Contact Us

    @ 2019 European Rubber Journal. All rights reserved.
    Contact Us European Rubber Journal, Crain Communication LTD, Ground Floor 11 Ironmonger Lane, London EC2V 8EY, UK

    Customer Service:
    1-313-446-0450

    Resources
    • About us
    • Contact Us
    • Staff
    • Advertise with Us
    • Media Kit
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • News
    • Technology Focus
      • Features
      • Technical Papers
    • Events
      • ERJ Events
      • ERJ Livestreams & Webinars
      • Industry Events
    • Maps & Reports
    • People
    • Directory
    • Digital Edition
    • Brainiac