Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Xetra  >  Lanxess    LXS   DE0005470405

LANXESS (LXS)
Mes dernières consult.
Most popular
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

LANXESS : to consolidate global production of lubricant precursors

share with twitter share with LinkedIn share with facebook
share via e-mail
0
10/05/2017 | 10:58am CEST

Release date- 04102017 - Specialty Chemicals company LANXESS intends to cease production at its Ankerweg site in Amsterdam, Netherlands, where it produces base oils for industrial lubricants.

Operations shall be terminated latest in November 2018. LANXESS took over the production site and its roughly 100 employees when it acquired U.S. chemicals group Chemtura. LANXESS also produces active ingredients at the Ankerweg site under a contract manufacturing agreement for a customer in the agrochemicals industry.

'We carefully analyzed the site and came to the conclusion that we cannot run production there on a competitive basis,' says Anno Borkowsky, head of the Additives business unit at LANXESS. LANXESS can produce the volume of base oils it needs to cover its own demand for the production of high-performance lubricants as well as market demand at its Elmira site in Canada. Additionally, the contract manufacturing agreement for agricultural active ingredients, that represents a substantial part of the activities at the Ankerweg site, will end latest in November 2018.

Borkowsky adds: 'Our priority now is to work with employee representatives to find responsible solutions for the employees concerned by the intended shut down.' To this end, the company is already engaged in constructive negotiations with union representatives.

LANXESS acquired the U.S. company Chemtura, one of the leading suppliers of flame retardant and lubricant additives, and its 2,500 employees in April 2017. As part of the integration process, LANXESS launched a detailed analysis of the former Chemtura production sites so as to further optimize global positioning and the individual processes and technologies. From the acquisition of Chemtura the company expects in total about EUR 100 million in synergies by 2020. An estimated EUR 140 million in associated one-time costs will be incurred for this.

Forward Looking Statements

This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accept any liability whatsoever arising directly or indirectly from the use of this document.

LANXESS is a leading specialty chemicals company with sales of EUR 7.7 billion in 2016 and about 19,200 employees in 25 countries. The company is currently represented at 75 production sites worldwide. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. Through ARLANXEO, the joint venture with Saudi Aramco, LANXESS is also a leading supplier of synthetic rubber. LANXESS is listed in the leading sustainability indices Dow Jones Sustainability Index (DJSI World) and FTSE4Good.

Contact:

Tel: +49 221 888 53790

Fax: +49 221 8885 4994

(c) 2017 Electronic News Publishing -, source ENP Newswire

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on LANXESS
08:58a LANXESS : once again in leading position of climate protection scoring
10/23 LANXESS : Even more attractive to life science and fine chemical industries
10/23 LANXESS : offers new mixed-bed exchanger for demineralizing water
10/23 LANXESS : A system for efficient water treatment
10/20 LANXESS AKTIENGESELLSCHAFT : Release according to Article 26, Section 1 of the W..
10/20 LANXESS AKTIENGESELLSCHAFT : Release according to Article 26, Section 1 of the W..
10/20 LANXESS : at the VGB conference 'Chemistry in Power Plants', October 24, 26, 201..
10/20 LANXESS : at the VGB conference 'Chemistry in Power Plants', October 24 - 26, 20..
10/20 LANXESS : Saltigo at CPhI 2017, Frankfurt, October 24-26, 2017, Stand 111H21; Ev..
10/20 LANXESS : Even more attractive to life science and fine chemical industries
More news
News from SeekingAlpha
10/09 MY JOURNEY TO FINANCIAL INDEPENDENCE : 83-Stock September Portfolio Update - Buy..
08/10 Lanxess' (LNXSF) CEO Matthias Zachert on Q2 2017 Results - Earnings Call Tran..
08/10 Lanxess Ag reports Q2 results
08/10 Lanxess Ag 2017 Q2 - Results - Earnings Call Slides
05/31 Berkshire and Citadel square off on German chemical company
Financials (€)
Sales 2017 9 614 M
EBIT 2017 702 M
Net income 2017 204 M
Debt 2017 2 565 M
Yield 2017 1,29%
P/E ratio 2017 31,13
P/E ratio 2018 16,45
EV / Sales 2017 0,91x
EV / Sales 2018 0,95x
Capitalization 6 195 M
Chart LANXESS
Duration : Period :
Lanxess Technical Analysis Chart | LXS | DE0005470405 | 4-Traders
Technical analysis trends LANXESS
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 71,0 €
Spread / Average Target 4,9%
EPS Revisions
Managers
NameTitle
Matthias Zachert Chief Executive Officer
Rolf Wilhelm Heinrich Stomberg Chairman-Supervisory Board
Michael Pontzen Chief Financial Officer
Werner Czaplik Member-Supervisory Board
Theo H. Walthie Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
LANXESS8.56%7 282
BASF3.05%97 889
GROUPE BRUXELLES LAMBERT13.74%17 262
EVONIK INDUSTRIES5.99%16 448
ROYAL DSM28.07%15 543
MITSUBISHI CHEMICAL HOLDINGS CORP.52.37%14 911