Tag: Lanxess
New Lanxess vulcanisation accelerator
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.
Saudi Aramco to become 100% owner of Arlanxeo
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.
Jorge Nogueira takes over as Arlanxeo’s CEO
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.
Arlanxeo sales up 25% in Q2 2017, EBITDA lower
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.
Lanxess presenting new tyre industry solutions at TTE
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.
Lanxess issues first hybrid bond
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.
Lanxess to buy 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.
Six DJSI listings in a row for Lanxess
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.”
Lanxess net income trebles in 2015
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.
Lanxess raises earnings forecast on back of good Q1 2016 results
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.
Arlanxeo – synthetic rubber JV’s Executive Board named
The Executive Board for the new Arlanxeo synthetic rubber joint venture has been announced, with parent companies Lanxess and Saudi Aramco gaining equal representation on the four-person Board.
Arlanxeo – 1 April launch for Lanxess, Saudi Aramco synthetic rubber firm
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.
Lanxess to share latest rubber research at Tire Technology Expo
In addition to showcasing its latest tyre industry developments at next month’s Tire Technology Expo in Hannover, Germany, the Tire and Specialty Rubbers (TSR) business unit of specialty chemicals company Lanxess will deliver two presentations on research into potential ways to further optimise tyre rubber compound.
Lanxess exhibiting ‘Rhenoshape’ tyre curing bladders at TTE
Lanxess Rhein Chemie Additives is presenting its Rhenoshape tyre curing bladders at Tire Technology Expo this February. The products have been developed at the firm’s new production plant in China. According to the company, the Rhenoshape bladders are the result of investment in injection moulding technology and permanently coated bladders, and are the latest product in the company’s portfolio of eco-friendly Rhenodiv tyre release agents, Rhenomark tyre marking inks, and curing bladders.
Chinese production of Rhein Chemie tyre curing bladders begins
Rhein Chemie Additives has opened a production line for Rhenoshape tyre curing bladders at its Chinese production site in Qingdao. The Lanxess business unit set up the facility with a “low single-digit million euro” investment and initially the new production line will expand Rhein Chemie Additives’ global production capacity by around ten per cent. The operation in Qingdao is the company’s fourth bladder plant.