Rhein Chemie surpasses EUR 300 million sales mark in fiscal 2011
Thursday, 22. March 2012 Rhein Chemie Rheinau GmbH, a wholly owned subsidiary of specialty chemicals company LANXESS, posted strong sales growth of 17 percent year on year in fiscal 2011. The Rhein Chemie group's global sales rose to EUR 332 million. The LANXESS group achieved sales of around EUR 8.8 billion in fiscal 2011.
• Rhein Chemie group’s global sales up 17 percent to EUR 332 million
• Further expansion of position in rubber industry with three acquisitions
• First acquisition already completed in first quarter of 2012
Mannheim, March 22, 2012 – Rhein Chemie Rheinau GmbH, a wholly owned subsidiary of specialty chemicals company LANXESS, posted strong sales growth of 17 percent year on year in fiscal 2011.
The Rhein Chemie group’s global sales rose to EUR 332 million. The LANXESS group achieved sales of around EUR 8.8 billion in fiscal 2011.
“With three strategic acquisitions in the past year, we have successfully expanded Rhein Chemie’s business with tire manufacturers and other rubber processors,” said Anno Borkowsky, CEO of Rhein Chemie. “Our extended portfolio of solutions has been very well received by customers. This huge success proves that we are on the right track.”
The main growth driver was the Rubber business line, where sales rose by just under 24 percent. The LOA business line, which specializes in industrial lubricant additives, grew by more than 13 percent on the previous year. Sales remained constant at Rhein Chemie’s third business line, Engineering Plastics, which produces additives for plastics and polyurethane.
Around half of all sales – some EUR 163 million – were generated in Europe, which remains Rhein Chemie’s biggest market. Rhein Chemie’s global sales trend was reflected in the company’s domestic market of Germany, too, where sales grew by 17 percent. Sales of EUR 93 million were posted in the Asia/Pacific region and sales of EUR 76 million were generated in the Americas region.
Global rise in employee numbers
The number of employees worldwide increased by a total of 230 in 2011, due in part to the acquisition of Darmex. Some 20 new employees were hired at the company’s headquarters in Mannheim, Germany. Taking into account the acquisition one week ago of Tire Curing Bladders LLC, Little Rock, Arkansas, United States, Rhein Chemie now has around 1,100 employees worldwide.
Good start to fiscal 2012
Anno Borkowsky is optimistic about the prospects for the new fiscal year:
“Rhein Chemie made a good start to the first quarter. Our new product line of additives for water-miscible metalworking fluids, for example, should help boost growth even further in our industrial lubricant additives business. The acquisition of U.S. bladder manufacturer Tire Curing Bladders (TCB) last week marked yet another milestone in the expansion of our business with tire manufacturers.”
In 2011, Rhein Chemie took over Argentinian release agent and bladder specialist Darmex and purchased the tire release agent business of Wacker Chemie, thus strengthening its portfolio of services. In February, Rhein Chemie was named Tire Industry Supplier of the Year at the Tire Technology Expo exhibition and conference.
About Rhein Chemie:
Rhein Chemie develops, produces and sells additives, specialty chemicals and service products for the rubber, lubricant and plastics industries. In fiscal 2011 Rhein Chemie achieved sales of EUR 332 million and has approximately 1,100 employees worldwide. The company is headquartered in Mannheim, Germany and has production facilities in Europe, Asia and North and South America. Rhein Chemie is a wholly owned subsidiary of the specialty chemicals group LANXESS, Leverkusen, Germany.
Mannheim, 22. March 2012
This news release contains forward-looking statements based on current assumptions and forecasts made by the management of Rhein Chemie Rheinau GmbH. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of our sole stockholder LANXESS Deutschland GmbH and the estimates given here. These factors include those discussed in LANXESS AG’s reports to the Frankfurt Stock Exchange. LANXESS AG and Rhein Chemie Rheinau GmbH assume no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.