Lanxess scores huge Q2 gains; leather-chemicals deal with BASF unclear

08/8/2010 | Wall Street Journal, The

German chemical major Lanxess has reported a second-quarter net income of about $173 million, compared to less than $23 million a year ago, as demand for synthetic rubber drove sales in Asia and Latin America. The income boost also led the company to increase its full-year outlook, putting it on pace for a "record year," said Axel Claus Heitmann, chairman of Lanxess. Heitmann, however, refused to address reports that the company has reached an agreement to buy BASF's leather-chemicals unit.

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