LANXESS remained silent on the acquisition of BASF leather chemicals business
according to foreign media reports, the CEO of LANXESS was still tight lipped about the acquisition of BASF leather chemicals business at the financial conference held last Friday
axelheitmann, chairman of LANXESS management board, said: "it is the group's policy not to comment on rumors. We usually publish the acquisition report in time after the agreement is reached."
Hedman also said that after business expansion, the company's working capital increased, and its net financial liabilities increased by 20.3% year-on-year to 955 million euros in the first half of the year, which is expected to continue to grow in the second half of the year. "Due to more investment in the third and fourth quarters, net debt is expected to continue to rise slightly."
LANXESS previously announced a net profit of 131million euros in the second quarter, a sharp increase year-on-year, mainly due to the increase in sales. As of June, sales in the three months of the second quarter increased by 48% to 1.83 billion euros
as DuPont is developing new generation technology, the demand for synthetic rubber in Asia and Latin America is strong. In the second quarter of this year, the EBITDA within the regular business scope of LANXESS doubled compared with the same period last year, reaching 269million euros. The sales revenue of high-performance polymers in the second quarter increased by 71% year-on-year to 958million euros. The main feature of the high-quality intermediate business drop test machine is that it can make free drop tests on the surfaces, corners and edges of packages. The sales volume of the plate reached 324million euros, an increase of 14% over the same period last year. The sales volume of high-performance chemicals was 537 million euros, an increase of 40% year-on-year. LANXESS said that the capacity operating rate of its factory in the second quarter was higher than 85%. "The main sensing and detection targets of high prices include drive system, bearing and rotation system, temperature monitoring and control, safety and other raw material costs, which have been completely transferred to the downstream by increasing product prices."
Hedman said that the market trading environment may remain good in the third quarter, "the global economy continues to recover, and emerging markets are the main driving force."
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