Cologne, Germany – Lanxess' Engineering Materials division, which contains the polyurethane business purchased from Chemtura in 2017, performed strongly in the third quarter of 2018.
Sales were up 13% compared with the previous year's quarter. A shortage of monomeric MDI in the US slightly reduced volumes in the polyurethane segment. However the business managed a 'strong' price increase which offset raw material prices.
Lanxess EBITDA in the business was EUR 70m in the quarter up 9% on the 2017 quarter. The company claims this was driven by 'strong operational performance'.
Overall, sales were EUR 1.79bn in the third quarter of 2018. This was up 4% on the 2017 quarter.
Meanwhile, EBITDA for the business as a whole was EUR 277m in the quarter. This was up by 1% on the EUR 273m recorded in the third quarter of 2017.
The company said its performance was 'solid due to a balanced portfolio' in the quarter, and that it had been successful in passing price rises from suppliers through to customers.