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The LANXESS Group held an online financial report conference yesterday
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Qian Mingcheng, President of LANXESS Asia Pacific
Sales were basically the same as last year
Sales were basically the same as last yearIn fiscal 2019, specialty chemicals company LANXESS achieved good results in a challenging economic environment
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At 6.
802 billion euros, the LANXESS Group achieved sales almost unchanged from the previous year (6.
824 billion euros)
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The three business segments, High Quality Intermediates, Specialty Additives and Performance Chemicals, all delivered strong results, compensating for the decline in the Engineering Materials segment, which was primarily driven by weak demand from the automotive industry
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"In 2019, the economic environment was difficult, and we also withstood the first real test since the company's restructuring
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“Even with the challenges, our profit margins have reached new highs and the financial foundation of our new growth projects has been further strengthened
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2020 Outlook: Smooth operation, but Covid-19 will cause stress
2020 Outlook: Smooth operation, but Covid-19 will cause stressQian Mingcheng, President of LANXESS Asia Pacific, said: "Despite the challenging global economic situation in 2019, LANXESS Greater China achieved double-digit growth, thanks to our balanced business layout
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LANXESS expects its operating business to remain stable in fiscal 2020, but the Covid-19 pandemic will have an impact of 50 million to 100 million euros on operating results for the entire year
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New Business Sector: Consumer Protection
New Business Sector: Consumer ProtectionLANXESS wants to focus more on consumer protection products in its development process, so it is currently adjusting its business segment structure, and the results of the adjustment will take effect immediately
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The Saltigo business unit, the liquid purification technology business unit and the material protection business unit form a new consumer protection business segment
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The business segment's product portfolio includes active ingredients for the agricultural and pharmaceutical industries, insect repellents and disinfectants, as well as water treatment and water purification technologies
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"Our consumer protection business segment is characterized by high-speed and steady growth
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At the same time, we have years of expertise in these often heavily regulated market sectors, which gives us a competitive advantage," Chang Mutian said.
said
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The Consumer Protection segment will replace the previous Performance Chemicals segment
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At the same time, the Inorganic Pigments business unit has now been incorporated into the High Quality Intermediates business segment
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Beginning in the first quarter of 2020, reports will be adjusted accordingly
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Lithium Project: Pilot Facility Starts Trial Operation
Lithium Project: Pilot Facility Starts Trial OperationLANXESS has made further progress in a commercial extraction project of battery-grade lithium at its production site in El Dorado, Arkansas, in cooperation with its partner Standard Lithium
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At this production site, LANXESS operates three production plants for bromine products
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Bromine can be obtained from the brine extracted here, which also contains lithium
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Standard Lithium has developed an innovative method to extract high-purity lithium directly from brine
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A pilot facility built within the factory will begin trial operation in March 2020
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LANXESS expects to have preliminary study results on technical feasibility by mid-2020
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