Lanxess (Leverkusen / Germany; www.lanxess.com) has revised its earnings forecast for 2008 slightly upward to EUR 710-730m from EUR 700m. This follows an unexpectedly strong Q3 in which the Performance Polymers division (synthetic rubber, PA and PBT), increased EBITDA pre-exceptionals by 33.7% to EUR 127m and sales by 40.6% to EUR 938m. More than 24% of the turnover improvement is attributed to higher selling prices and a price before volume strategy that CEO Axel Heitmann said would be continued, “even in the face of declining demand.”

For 2009 the outlook is guarded, due to the financial crisis and the downturn in the automotive and construction sectors. Weakening markets already have necessitated capacity cuts for NBR and EPDM rubbers, Heitmann said. The cuts in NBR – mostly in North America – have gone hand in hand with job losses, and contingency plans for further output restrictions in many production segments have been drafted, which also could include closure of individual plants. “Personnel measures” would not necessarily involve redundancies, but could include extended holiday breaks. Heitmann said he expected most of the moves, in “selected markets,” to be temporary.