UKIP’s Transportation Weight Loss Diet Conference will be held next month in Stuttgart. The two-day conference focuses on reducing vehicle weight and decreasing carbon footprints in transportation equipment, including the aerospace, automotive, and rail sectors. The conference will be held in Stuttgart, Germany on June 5-6, 2013. Details are here.
May 13, 2013
ICIS announces second butadiene conference
ICIS, a chemical consulting firm, has announced the 2nd ICIS Butadiene and Derivatives Conference, a two-day conference focussing on the butadiene value chain, from feedstock to downstream derivatives and end product markets. The conference will be held in Berlin from September 10-11, 2013. The first Butadiene and Derivatives Conference was held September 11-12, 2012, also in Berlin. Details for the conference are here.
LANXESS points to weak tire and automotive markets for 12% sales decline in 1Q
LANXESS reported lower-than-expected earnings in its first quarter due to a weak market environment, particularly in the tire and automotive industries. First-quarter sales were down by 12 percent year-on-year to EUR 2.1 billion, mainly due to lower volumes and fallen selling prices.
Sales in the Performance Chemicals segment, which includes both the Rubber Chemicals and Rhein Chemie businesses, decreased by 7 percent to EUR 520 million. Volumes declined as a result of the weak demand from the construction industry due to the long winter and from the business units linked to the tire industry. Selling prices were stable. EBITDA pre exceptionals, at EUR 51 million, was EUR 32 million below the prior-period figure.
LANXESS anticipates a slight improvement in business for the second quarter. “The weak demand from the tire and automotive industries persists, but customer destocking is slowing down. We currently anticipate EBITDA pre exceptionals in the second quarter to improve sequentially but to be below EUR 220 million,” said LANXESS’ Chairman of the Board of Management Axel C. Heitmann. “The market environment will remain weak and volatile with low visibility persisting. We nevertheless expect an economic improvement in the second half of this year. Asia, particularly China, will perform substantially better, whereas market conditions in Europe will remain difficult.”