Leather chemicals business discontinued in Lanxess results
Chemicals group Lanxess has reported revenues of just over €1.7 billion for the first quarter of 2020, a fall year on year of 2%. This yielded net income of €64 million, down by 23.8%.
With regard to leather chemicals, all Lanxess said was that the sale of all the operations of its leather business unit should be complete by the end of this year. In its figures, it classes the contributions of leather chemicals as “discontinued”.
Previously, it reported the performance of its leather chemicals business as part of its performance chemicals segment. It has introduced a new consumer protection segment in place of this. Consumer protection includes material protection products and liquid purification technologies. It said this new consumer protection segment had achieved “a very strong performance” in the first quarter.
Lanxess said it had experienced 31 cases of covid-19 among its more-than 14,000 employees, but that 27 of those people had already recovered. It said that all its plants were operational again after restrictions imposed to prevent the spread of the virus. It said it had also begun, gradually, to resume its office operations again on May 4.
