Profit, sales rise at Lanxess
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Lanxess, the German rubber and chemicals maker with North American headquarters in Findlay, said profit rose 2 percent in 2012 to 514 million euros ($663 million) while global sales increased 4 percent to 9.1 billion euros ($11.7 billion) on gains of more than 10 percent in the Asia-Pacific and North American regions.
North American sales totaled 1.6 billion euros ($2.1 billion). Besides its headquarters, Lanxess' local operations include facilities in Neville Island and Burgettstown, Washington County.
The company also confirmed preliminary fourth-quarter results released earlier this month.
For the fourth quarter, profit shot up to 51 million euros from 5 million euros in 2012 while sales were flat at 2.1 billion euros.
Lanxess said low demand in the second half of 2012 has continued into the first quarter and that it expects earnings before special charges in 2013 will not reach 2012 levels.
But despite the sluggish conditions in the tire and automotive markets in Europe, the company said it expects sales to pick up in the second half of the year.
New Lanxess facilities are scheduled to startup this year in Singapore and China and the company will move its world headquarters from Leverkusen to offices on the banks of the Rhine River in Cologne in September.
First Published March 21, 2013 10:55 am