Latest news with #Lanxess
LBCI
21 hours ago
- Business
- LBCI
China slaps extended tariffs on EU toluidine imports amid trade tensions
In a move signaling continued trade friction with the European Union, China's Ministry of Commerce announced Friday it will extend anti-dumping duties on toluidine imports from the bloc for another five years, starting June 28. The renewed tariffs target German chemical giant Lanxess Deutschland GmbH with a 19.6% duty, while other EU producers will face a significantly higher rate of 36.9%. The decision follows a review of market conditions and pricing practices that Beijing says unfairly disadvantage domestic manufacturers. Toluidine, a key chemical used in dyes, pharmaceuticals, and pesticides, has been at the center of trade scrutiny due to its strategic industrial applications. The extension of duties underscores China's broader efforts to shield its chemical sector from foreign competition and comes amid a backdrop of rising global trade protectionism. Reuters
Reuters
a day ago
- Business
- Reuters
German industrial top brass to hold talks with EU chief on sector challenges
FRANKFURT, June 27 (Reuters) - Germany will send some of its top industrial CEOs to Brussels next week to hold talks with EU chief Ursula von der Leyen on how to preserve the sector's competitiveness in light of trade wars and high energy costs, a source with direct knowledge of the matter said. Spearheaded by Hendrik Wuest, the state premier of North Rhine-Westphalia, the meeting will be attended by the CEOs of Thyssenkrupp ( opens new tab, Lufthansa ( opens new tab, Rheinmetall ( opens new tab and Lanxess ( opens new tab, among others, the source said. North Rhine-Westphalia is Germany's most populous state and also the country's industrial heartland, which has come under pressure from a mix of Asian rivals, red tape, some of the world's highest energy costs and rising trade barriers. The CEOs of ( opens new tab Covestro , Lanxess ( opens new tab, Evonik ( opens new tab, Henkel , DHL ( opens new tab, and Uniper ( opens new tab will also attend the working lunch scheduled for July 2, the source said. The companies attending the meeting are all headquartered in North Rhine-Westphalia, and represent around 1.5 million workers and around 500 billion euros ($585 billion) of combined sales, the source said. The meeting comes as Brussels is seeking a trade deal with Washington ahead of a July 9 deadline set by U.S. President Donald Trump, with U.S. imports of 50% on EU goods possible unless an agreement is reached. Politico first reported the planned meeting. ($1 = 0.8544 euros)
CNBC
14-05-2025
- Business
- CNBC
Greenlight's David Einhorn unveils his new pick, says it could be a tariff beneficiary
Greenlight Capital's David Einhorn gave a new investment idea on Wednesday at Sohn Investment Conference in New York — Lanxess , a German chemical company. "Today, I'm presenting a company where the management has made excellent strategic decisions, but the stock has suffered due to a lot of bad luck," Einhorn said in a cartoon-littered presentation titled "When bad things happen to good people." The star hedge fund investor noted that Lanxess has shed its highly cyclical commodity businesses and replaced them with more stable, higher quality specialty chemicals. Lanxess was founded in 2004 after Bayer AG spun off its chemicals division and parts of its polymers business. "In theory, this should have led to more stable returns, higher margins and a higher multiple. In practice, the progress was temporarily derailed by a slew unfortunate developments," Einhorn said. "The opportunity today is to realize that the troubles have largely passed and that the company is likely to be on a successful path to realizing the benefits of its transformation." The widely followed investor said Lanxess could be a tariff beneficiary because the company, as a domestic manufacturer, could start to raise prices. Einhorn said almost 30% of its manufacturing capacity is in the United States, while in some areas, such as parts of its advanced industrial intermediate business unit, it is the sole remaining U.S. producer and faces Chinese competition. "We think Lanxess is set for success and will surprise the market," Einhorn said. Einhorn famously presented Lehman Brothers as his short idea at the same conference in 2008 before the collapse of the investment bank.
Reuters
20-03-2025
- Business
- Reuters
Lanxess sees full-year core profit hit from economic slowdown, political risks
GDANSK, March 20 (Reuters) - German specialty chemicals maker Lanxess ( opens new tab said on Thursday it expects its full-year 2025 earnings to be impacted by slow economic growth and a high likelihood of politically triggered economic turbulence. The company said it expects earnings before interest, taxes, depreciation and amortisation (EBITDA) pre exceptionals to reach between 600 million euros ($653.82 million)and 650 million euros by end of the year, including the pro-rata contribution of Urethane Systems. Vara Research analysts had expected the company's 2025 EBITDA pre exceptionals to reach 674.8 million euros. ($1 = 0.9177 euros)
