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Category: LANXESS

  • Namitesh Roy Choudhury assumes the role of Vice Chairman and Managing Director for LANXESS India region – Primex News Network

    Namitesh Roy Choudhury assumes the role of Vice Chairman and Managing Director for LANXESS India region – Primex News Network

    Mr. Namitesh Roy Choudhury – Vice Chairman and Managing Director, LANXESS India Private Limited

    Mumbai, 18 July,2022–Effective July 1, 2022 Namitesh Roy Choudhury assumes the role of Vice Chairman and Managing Director of LANXESS India Private Limited. He also takes on the responsibility of Region Head for India.

    In this new role, he will represent the businesses of LANXESS India to the global organization and will report to Dr. Anno Borkowsky, member of the Board of Management and head of all the four regions, globally.

    Roy Choudhury has been the Executive Director since 1 October, 2021 and Vice President, Industrial & Environmental Affairs for LANXESS India since 2007. He moved to the LANXESS India organization in 2004 after the carve out from Bayer as the Head of Production, Technology, Safety & Environment (PTSE) and Capital Investment.

    Backed by over 30 years of experience, he has executed several projects at the greenfield LANXESS manufacturing site in Jhagadia, Gujarat, including state-of-the-art ion exchange resins plant for business unit Liquid Purification Technologies, compounding facility for business unit High Performance Materials and relocation of the Rubber Chemicals business and Rubber Compounding facilities.

    Roy Choudhury is also the Chair of the Indian Bromine Platform (IBP).

    Prior to joining LANXESS, Roy Choudhury spent 16 years at Bayer in various departments such as plant engineering, central engineering and energy & environment projects. He also spent three years in China executing projects for Bayer. Prior to joining Bayer, he also worked with the Tata Group in the beginning of his career.

    “On behalf of the entire Board of Management, I would like to thank Namitesh Roy Choudhury for his excellent work to date and wish him every success in his new tasks,” said Borkowsky.

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  • LANXESS Q1 sales up 43.7 percent to EUR 2.432 billion – Primex News Network

    LANXESS Q1 sales up 43.7 percent to EUR 2.432 billion – Primex News Network

    Mumbai (Maharashtra) [India], May 11: Specialty Chemicals company LANXESS made a strong start to the year 2022. In the first quarter of 2022, EBITDA pre exceptionals increased considerably and amounted to EUR 320 million, 32.2 percent higher than the previous year’s figure of EUR 242 million. All the company’s segments contributed to the growth, with the Specialty Additives segment performing particularly well. LANXESS passed on the significantly increased raw material and energy costs via higher selling prices. The successful acquisitions, especially that of Emerald Kalama Chemical, likewise made a positive earnings contribution. The EBITDA margin pre exceptionals came to 13.2 percent, against 14.3 percent a year ago.

    Group sales amounted to EUR 2.432 billion in the first quarter, up 43.7 percent on the previous year’s figure of EUR 1.693 billion. Net income reached EUR 98 million, after net income from continuing operations of EUR 63 million in the previous year.

    LANXESS is also confident going into the second quarter, in which the Group expects EBITDA pre exceptionals of between EUR 280 million and EUR 350 million. In the prior-year quarter, the company had generated EUR 277 million. For the full year, LANXESS still expects EBITDA pre exceptionals to be significantly higher than in the previous year. However, the guidance does not take into account potential further impacts of the war in Ukraine and the contribution of the acquisition of IFF’s Microbial Control business. The transaction is expected to close in the third quarter.

    “With our focus on specialty chemicals, we have built up strong market positions in recent years, which are particularly paying off in the current situation. We can thus pass on higher raw material and energy costs via our selling prices. However, it is impossible to predict the impact of the war in Ukraine on future business performance. We are therefore monitoring the further developments very closely,” said Matthias Zachert, Chairman of the Board of Management of LANXESS AG.