Sales growth for Lanxess in first quarter of 2018
09/05/2018
The company said this increase, as well as a 14% increase in its earnings, included strong contributions from the Chemtura business, which it acquired in April 2017.
It wasn’t all good news, however, with the Performance Chemicals segment, which includes Lanxess’s leather business unit, suffering an 8.7% drop in sales. Earnings for this segment were down 11.9% year on year. The company blamed “negative currency effects” and the divestment of its chlorine dioxide business for these decreases.
Matthias Zachert, chairman of the Lanxess board of management, said: “Lanxess remains firmly on the track. We have made a dynamic start to the new fiscal year and improved our profitability again. This shows that our efforts to move the company forwards are increasingly paying off.”
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