Chemicals company Lanxess has has said it expects to earn record profit in 2017 after a strong second quarter, reports Leatherbiz.
Sales for the three months increased by almost 30% to €2.5 billion. Profit grew by a quarter, primarily due to the earnings contribution from the newly acquired Chemtura businesses as well as to higher volumes and selling prices.
“Our growth strategy is paying off. Our strong operating performance and our profitable acquisitions are the basis for our strong results in the second quarter. The newly acquired Chemtura businesses are already making a significant earnings contribution, and the other areas of our speciality chemicals portfolio are also developing positively,” said CEO Matthias Zachert.