Mumbai, India (PressExposure) September 30, 2009 -- âThe ICIS Company of the Year Award goes to LANXESS for its outstanding financial performance in a challenging 2008,â said Joseph Chang, Global Editor of ICIS Chemical Business. âWe congratulate LANXESS and its CEO Axel C. Heitmann.â
ICIS Chemical Business magazine selected LANXESS for this award on the grounds that the company increased net profit by 53 percent to EUR 171 million on nearly flat sales of EUR 6.58 billion in 2008, despite a sharp drop in fourth quarter demand. In addition, its management and workforce reacted promptly and effectively to the downturn, and the company achieved its growth and financial targets over the course of 2008 â a year ahead of plan.
LANXESS CEO Axel C. Heitmann: âThe results in the first nine months of 2008 highlighted that LANXESS was pursuing the right strategy of profitable growth. Then in the fourth quarter came an economic downturn of historic proportions. Our restructuring skills were called upon again and we reacted swiftly with a package of measures. I am confident that LANXESS will emerge strengthened from the crisis.â
LANXESS is ranked 45th in the ICIS Top 100 global ranking based on sales. U.S.-based fertilizer supplier Mosaic was named âCompany of the Yearâ by ICIS the previous year.
Read the ICIS âCompany of the Yearâ article on ICIS Chemical Business at [http://www.icis.com/topchemicalcompany/2009].
ICIS is the worldâs largest information provider for the chemical and energy industries. ICIS is part of Reed Business Information, a member of Reed Elsevier plc â a world leading stock market-listed publisher.
Leverkusen, September 28, 2009 eic (2009-00177e)
Forward-Looking Statements This news release may contain forward-looking statements based on current assumptions and forecasts made by LANXESS AG management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
Information for editors: 100 years of synthetic rubber â interesting information about the anniversary and the numerous application areas of the elastic all-rounder can be found at http://www.worldrubberday.com.
You can find further information concerning LANXESS chemistry in our WebMagazine at http://webmagazine.lanxess.com.
All LANXESS news releases and accompanying photo, video and audio material can be found at http://press.lanxess.com. Current photos of the Board of Management can be found at http://imagebase.lanxess.com.