ICIS names LANXESS ‘Company of the Year’
ICIS Chemical Business magazine has named German specialty chemicals company LANXESS ‘Company of the Year’.
“The ICIS Company of the Year Award goes to LANXESS for its outstanding financial performance in a challenging 2008,” said Joseph Chang, Global Editor of ICIS Chemical Business. “We congratulate LANXESS and its CEO Axel C. Heitmann.”
ICIS Chemical Business magazine selected LANXESS for this award on the grounds that the company increased net profit by 53 percent to EUR 171 million on nearly flat sales of EUR 6.58 billion in 2008, despite a sharp drop in fourth quarter demand. In addition, its management and workforce reacted promptly and effectively to the downturn, and the company achieved its growth and financial targets over the course of 2008 - a year ahead of plan.
LANXESS CEO Axel C. Heitmann: “The results in the first nine months of 2008 highlighted that LANXESS was pursuing the right strategy of profitable growth. Then in the fourth quarter came an economic downturn of historic proportions. Our restructuring skills were called upon again and we reacted swiftly with a package of measures. I am confident that LANXESS will emerge strengthened from the crisis.”
LANXESS is ranked 45th in the ICIS Top 100 global ranking based on sales. U.S.-based fertilizer supplier Mosaic was named ‘Company of the Year’ by ICIS the previous year.
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