Home News UPDATE: 2010 Lanxess expects much better year than 2009

UPDATE: 2010 Lanxess expects much better year than 2009

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By Heide Oberhauser-Aslan
DOW JONES NEWSWIRES 


FRANKFURT (Dow Jones) – Chemicals group Lanxess expects the current fiscal year to cut off much better than last year. "We expect that 2010 is significantly better than 2009, "said Board Chairman Axel C. Heitmann in Frankfurt on Monday during the five-year anniversary of the stock market Group.

Lanxess lies in the capacity utilization at the Group level being again exceeded 70%, said the manager. In This crisis was lying "about 60%. The market demand is but is presently still very volatile and the orders are still very the short term, said Heitmann.

Our own forecast for the past year is likely to Group have now reached. "We would not be here today to celebrate, if there would be negative surprises, "said the Manager without having to give precise figures. Lanxess had in 2009 Adjusted EBITDA 400 million to 420 million EUR in prospect.

Even after acquisitions, the Group looks to continue. "We are small and medium-sized investments in the future conduct, "said Heitmann. What financial leeway for Lanxess Acquisitions has, he would not tell them so. "The budget has naturally adapted to the current cash Sitation of Business, "but he was very much present," said Heitmann.

The company has proven in the past that it also could acquire the crisis. "We intend to travel Continue and small and medium-sized acquisitions in the future conduct, "said the manager.

Whether Lanxess also be interested in parts of the business Conglomerate Evonik would have, would not say Heitmann. According to media reports, Evonik will continue on the chemical business Align and focus in this area and re-focus. "I not closely acquainted – except what the press – what Evonik want to make, we are all eager to hear more and Then we will evaluate, "said Heitmann." We look of course, what is interesting about us and to us fits ".

With regard to the economic outlook, the manager said: "In the Western Hemisphere, we will lower digit growth rates over a longer period must be satisfied. "In the Asian area, especially in China, however, be expected with double-digit growth rates. The Bric countries (Brazil, Russia, India and China), China in particular are meanwhile returned to Vorkrisenniveau. These countries could not compensate for what had been lost in the ancient world. "The crisis is so far from being over, we must therefore maintain our very cautious way, what the Western Hemisphere concerns, "said Heitmann.

   

Website: www.lanxess.com

-By Heide Oberhauser-Aslan, Dow Jones Newswires, +49 (0) 69 29 725
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heide.oberhauser @ dowjones.com

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(END) Dow Jones Newswires

February 01, 2010 08:48 ET (13:48 GMT)

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