Lanxess expects a boost in demand for high-performance rubbers

LSRUNQI

Lanxess expects a boost in demand for high-performance rubbers
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Tuesday, September 27, 2011
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Dusseldorf - Lanxess expects a boost in demand for high-performance rubbers due to the European Union tire labeling legislation that comes into effect in 2012. Because of the ongoing strong demand for synthetic rubbers, also used in winter tires, Axel Heitmann, the Lanxess CEO, confirmed the Group’s earnings forecast for the full-year 2011 at the beginning of the event. “As announced, we will increase our EBITDA pre exceptionals by roughly 20%. The third quarter is going very well and will be better than the third quarter of last year,” said Heitmann. The trend towards mobility is supported by internal market studies: According to the latest forecasts, around 2 billion tires will leave the manufacturer’s production lines by 2015 compared with around 1.6 billion at present. This is an increase of some 25% for the tire industry. Because of the European Union tire labeling initiative, the market share of ”green tires” made of high-performance rubber will increase from its present 35% to around 50% of the overall tire market.