Cologne, Germany – Arlanxeo, the synthetic rubber joint venture between Lanxess and Saudi Aramco, has delivered solid results for the third quarter of 2018.
The unit reported a 22.7% growth in year-on-year sales to €851 million, said a Lanxess third quarter results presentation 12 Oct.
Earnings (EBITDA) increased 26.0% to €92 million in the three months to end of September, compared to €73 million the year before.
Lanxess did not comment on the performance of the rubber unit as it has been discontinued from group reporting, ahead of divestment plans.
"Lanxess financial reporting is based on its continuing operations... [The figures] are unaudited and given by our IR department only as additional service to our stakeholders," a spokeswoman clarified to ERJ.
The German speciality chemicals announced plans in August to sell its remaining 50% stake in Arlanxeo to its joint venture partner Saudi Aramco.