As of 1 January 2013, graduate chemical engineer Wolfgang Heuchel will become the new CEO of Lanxess Central Eastern Europe s.r.o. The 57-year old will succeed Flemming B. Bjørnslev in the Bratislava, Slovakia-based role. Bjørnslev has been appointed president and CEO of Lanxess Corporation in the United States.
Lanxess AG has launched a business-to-consumer version of its new green tyre information app. The launch follows the release of the first version of the consumer orientated app in Europe during the Essen show, then in the UK in September at a tyre labelling roundtable sponsored by the compound supplier. The unveiling of the new app created in conjunction with the NTDA was previewed at October’s Brityrex exhibition before being officially launched at the association’s annual dinner.
At its media day in New York, German specialty chemicals company Lanxess announced a new mid-term goal for its leading earnings indicator – EBITDA pre exceptionals. The company projects that its EBITDA pre exceptionals will reach 1.8 billion euros in 2018, and says its previous 2015 EBITDA pre exceptionals goal of 1.4 billion euros will now be reached a year ahead of schedule. This key performance indicator has increased by an average of 20 per cent per annum since 2004, and for 2012 Lanxess reconfirms its guidance for EBITDA pre exceptionals to increase by five to ten per cent year-on-year.
On 11 September, Lanxess broke ground on its new neodymium-based performance butadiene rubber (Nd-PBR) plant in Singapore. The facility is being built with an investment of around 200 million euros and is expected to start production in the first half of 2015. Planned annual capacity of 140,000 tonnes will serve the growing market for low rolling resistance tyres, particularly in Asia.
Tyre manufacturing chemical supplier Lanxess AG is to join German benchmark index DAX 30, effective 24 September 2012, according to the Stock Indices Working Group of Deutsche Boerse AG. Lanxess shares closed at 60 euros on 5 September (the day the news was announced.
The DAX (Deutscher Aktien IndeX) consists of 30 major German companies trading on the Frankfurt Stock Exchange. Prices are taken from the electronic Xetra trading system. According to Deutsche Boerse AG, the operator of Xetra, DAX measures the performance of the 30 largest German companies in terms of trading volume and market capitalisation.
Over 70 per cent of motorists are still completely unaware of the impending tyre labelling legislation and the fuel efficiency benefits associated with it. The figure comes from a survey of 3,000 UK motorists conducted by OnePoll and commissioned by tyre Chemical supplier Lanxess. It also shows that almost all UK motorists (99%) vastly underestimate the impact tyres have on their fuel bills, and that over half still prioritise upfront cost when buying their tyres. Less than 20% take fuel consumption and long term costs into consideration.
Following the success of 2011’s event, Westlake Tyres once again sponsored the NTDA Annual Golf Day which was held at the world renowned The Belfry, four times host of the Ryder Cup and several European Tour events.
Brazil’s government has carried out a public consultation to determine regulations for tyres sold in the country in preparation for legislations towards greener tyres. Chemicals manufacturer Lanxess reports that the consultation was performed last month and the government is now analysing the suggestions it received; these will be published before the end of the year.
Specialty chemicals Group Lanxess reports continued growth in the second quarter of 2012, with EBITDA pre-exceptionals rising 6.8 per cent year-on-year to 362 million euros. Sales increased 8.1 per cent to 2.42 billion euros. Commenting on the results, company CEO Axel C. Heitmann said “we believe these results confirm our view of the seasonal development, and we are therefore adhering to our target of raising EBITDA pre exceptionals by five to ten per cent for the full year. Our focus on megatrends and growth regions, combined with our technological expertise, provide stability in an increasingly challenging environment.”
Lanxess reports it will work with the China Rubber Industry Association (CRIA) towards developing and implementing tyre labelling in China. The two parties signed a letter of intent on 13 July, and the German specialty chemicals and synthetic rubber specialist says it and the CRIA have “agreed to cooperate closely on sharing knowledge and expertise” in this area.
Lanxess has announced that it is partnering with the National Tyre Distributor’s Association (NTDA) to ensure tyre dealers and wholesalers across the UK have everything they need to prepare for mandatory tyre labelling when it is introduced on 1 November.
The Goodyear Lastikleri Board announces the appointment of Emin Ozkan as managing director Goodyear Lastikleri TAS, Turkey, effective 30 July 2012, reporting to the board of Goodyear Lastikleri TAS.
One thing made clear for Lanxess at this year’s Reifen show is that a new era is dawning upon the tyre sector. The specialty chemicals manufacturer noted the high profile enjoyed by green tyres, particularly those aimed at meeting the requirements of the European tyre label.
The tyre and automotive sectors are Lanxess’ most important in Turkey, and the company aims to further expand in this growing market. On 18 June the specialty chemicals firm took what it calls an “important step in this direction” with the official opening of its new subsidiary in Istanbul. In future, Lanxess Kimya Ticaret will manage the company’s business in Turkey, a market where it generated record sales of some 125 million euros in 2011, nearly triple the firm’s 2009 result. The new company will initially start off with 20 employees and is headed by general manager Ömer Bakir.
At the company’s Annual Stockholders’ Meeting on 15 May, Lanxess CEO Axel C. Heitmann stated that the specialty chemicals firm remains on course for growth in 2012. “We will continue to pursue our successful strategy of focusing on dynamic markets, megatrends, profitable growth and a solid financial basis,” said Heitmann. The company confirmed its forecast for the full-year 2012: EBITDA pre-exceptionals is expected to grow by between five and ten per cent compared with last year.
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