Leading specialty chemicals company Lanxess achieved sales of around EUR 65 million in the third quarter, registering a growth of around 52 percent year-on-year in India. India is a key pillar of the BRICS strategy that the company pursues and has been performing consistently. “Overall, this was our best quarter by far. The performance polymers segment clocked a growth rate of about 155% in India, which is the highest amongst the three business segments. In this segment, the poly butadiene rubber business unit emerged the strongest,” Venkatesh Sankaran, Executive Director and CFO, Lanxess India Private Limited said.

This is acknowledgment of the fact that the applications of high performance rubbers from Lanxess are increasingly finding acceptance in the Indian market.

Globally, sales increased by 26 percent year-on-year to EUR 2.3 billion.

Performance by region

Asia-Pacific increased sales by 27 percent year-on-year to EUR 519 million in the third quarter and represented 22 percent of Group sales. China, India and South Korea were the strongest performers. Sales in Germany rose 20 percent year-on-year to EUR 407 million in the third quarter and represented 18 percent of Group sales. The company'''s rubber activities benefited especially from strong demand for winter tires. Sales in the five BRICS countries (Brazil, Russia, India, China, South Africa) rose 35 percent year-on-year to EUR 588 million. These key markets now represent 25 percent of Group sales.

Outlook

In spite of the prevailing macroeconomic conditions, Lanxess still expects solid growth in the BRICS countries. Also, the company has proven in the past that it can react quickly and efficiently to any challenge due to its excellent strategic set-up.

According to the company, the company will be sticking to its growth strategy going forward as part of the company'''s goal to achieve EUR 1.4 billion EBITDA pre exceptionals in 2015. In order to reach this goal, the company is continually investing in new and existing plants to meet growing demand. Lanxess now expects to spend EUR 600 million in 2011, at the top end of its 550-600 million guidance.