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2006-03-15 News Headlines

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LANXESS Chemicals lifts force majeure for butyl rubber

Chemicals group LANXESS has lifted its force majeure declaration for the production of butyl rubber at its Sarnia, Canada, site issued at the beginning of the year.

The declaration of force majeure had become necessary after the group had been forced to cut back production due to continued delivery problems with its Canadian raw material supplier, NOVA Chemicals (Canada) Ltd. NOVA had itself issued a force majeure notice in October 2005 and has now partially lifted this declaration having been able to produce and deliver raw materials for several weeks.

As expected, this case of force majeure will reduce EBITDA pre exceptionals in the 1st quarter of 2006 by less than EUR 10 million.

On March 6, 2006, Lanxess AG, the Leverkusen-based chemical company, announced a price increase for Polychloroprene Rubber.

The LANXESS Technical Rubber Products Business Unit (TRP) again raised its prices for Baypren® Rubber (polychloroprene) by up to EUR 0.50 or US$0.60 per kg with effect from January and February 2006 respectively. Prices for Nitrile Rubber (NBR) powdered specialties were also increased by up to EUR 0.50 or US$0.55 per kg depending on quality.

LANXESS is a leading chemicals group with production sites and agencies all over the world: a global player in the fields of chemicals, plastics and rubber.

Read a recent press release; 'The Lanxess Group has now successfully concluded the sale of its Dorlastan fibers business to AKF and the Finnish Paper BU chemicals unit to Kemira.'

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