Speciality chemicals company Lanxess has added a plant-based raw material variant to the Aktiplast PP product range produced by its Rhein Chemie business unit. These processing promoters for polymer blends are used in the production of tyres and a wide range of technical rubber articles. Aktiplast PP-veg, which is based on renewable raw materials, was developed specifically in response to a customer requirement from Asia. An international tyre manufacturer based in Europe has also expressed “great interest” in the material, Lanxess adds.
We haven’t heard a great deal from Lanxess since it spun off its Tire & Specialty Rubbers (TSR) and the High Performance Elastomers (HPE) business units into the Arlanxeo joint venture in 2016. But the company, which sold its 50 per cent share in Arlanxeo a year and a half ago, is still very much active as a supplier to the tyre industry. Later this month, Lanxess will showcase its tyre manufacturing solutions at Tire Technology Expo.
A new product that specialty chemicals company Lanxess will soon trial with customers promises sufficient time for full cross-linking, even at high temperatures. The VP Vulkacit TZ vulcanisation accelerator is a sulfenamide based on aromatic amines and is suitable for all types of rubber. Lanxess foresees its use in the production of tyres and technical rubber goods.
An agreement was signed today for the sale of Lanxess’ 50 per cent share in the Arlanxeo joint venture to its partner, Saudi Aramco. Should antitrust authorities approve the transaction, Lanxess will receive approximately 1.4 billion euros in cash after deducting debt and other financial liabilities for its 50 per cent share in the business, which is valued at 3.0 billion euros. Lanxess, which at the end of June 2018 had a net financial debt of 2.6 billion euros, says it plans to use the proceeds to strengthen its financial basis and reduce net financial debt.
Starting 9 September, Jorge Nogueira is chief executive officer of Arlanxeo. He succeeds Jan Paul de Vries, who has left the synthetic rubber manufacturer to “seek a new professional challenge.” Prior to his appointment as CEO, Nogueira headed the company’s Tire & Specialty Rubbers (TSR) business unit, and he been a member of the Arlanxeo Executive Board since the joint venture was founded in April 2016.
Lanxess reports that sales in the Arlanxeo business segment rose 24.6 per cent year-on-year to 835 million euros. EBITDA pre-exceptionals decreased 3.0 per cent to 92 million euros; the speciality chemical company says increases in energy costs “in particular stood against the success in passing on increased raw material costs.” EBITDA margin pre-exceptionals was 11.0 per cent, against 14.2 per cent a year earlier.
Next month the Lanxess Rhein Chemie Additives business unit will present a variety of solutions for tyre makers the Tire Technology Expo in Hannover, Germany. These solutions, which will be featured on the company’s stand (hall 2, stand 224), include the Rhenodiv range of eco-friendly tyre release agents, Rhenomark tyre marking paints, Rhenoshape tyre curing bladders and Rhenogran aramid fibre masterbatches.
Specialty chemicals company Lanxess today successfully issued a hybrid bond with a volume of 500 million euros on the European capital market. The proceeds of the transaction are to be used for the financing of the planned acquisition of US-based chemical company Chemtura.
On 29 September Lanxess announced plans to acquire US-based Chemtura Corporation, one of the major global providers of flame retardant and lubricant additives.
Under the terms of the two parties’ agreement, Chemtura shareholders will receive US$33.50 per share in cash for each outstanding share of common stock held, which represents an 18.9 per cent premium to the stock’s closing share price of $28.18 on 23 September 2016. The 2.4 billion euro transaction will be financed by Lanxess mainly through senior and hybrid bonds and is expected to close around mid-2017.
Specialty chemicals company Lanxess will be included in the Dow Jones Sustainability Index (DJSI) World for the sixth time in succession from 19 September. Commenting on the company’s continuation in the index, Board of Management member Hubert Fink said: “We are delighted by our renewed listing in the index and see this as confirmation of our commitment in the area of sustainability. Sustainable economic success is impossible today without a responsible approach to environment and society. The guiding principle of sustainable development is firmly anchored in the corporate strategy.”
At this year’s Annual Stockholders’ Meeting, specialty chemicals company, the Board of Management at Lanxess AG proposed a dividend of €0.60 for the 2015 fiscal year. This is approximately 20 per cent higher than the dividend paid a year earlier and equals a total dividend payout of some €55 million.
Following what it says was “a good first quarter,” specialty chemicals company Lanxess has raised its earnings forecast for fiscal 2016. The company now expects to achieve EBITDA pre-exceptionals between €900 million and €950 million, as opposed to previously assumed figure of €880 million to €930 million.
State-owned oil company Saudi Aramco and specialty chemicals company Lanxess report that all pertinent authorities have cleared the joint venture agreement signed by the two parties last September, and as a result their joint synthetic rubber company will come into being on 1 April 2016. The 50/50 joint venture will be known as Arlanxeo.