Lanxess points to lower raw material selling prices in Q1 2016 results
By Siobhan Lismore-Scott
Published: Wednesday, 11 May 2016
German speciality producer Lanxess today pointed to lower selling prices for the raw materials it consumes for the production of its chemical products. These include, chromite, iron oxide, TiO2, rare earths and fluorspar.
Revenue down 5.8% on a year-on-year (y-o-y) basis, to
€1.9bn ($2.16bn*), but profit up to €461m, from
€443m in Q1 2015. The company pointed to "lower selling
prices, which resulted to a large degree from lower
procurement...