Lanxess CEO Says Q3 To Be Affected By Massive Uncertainty -Conf Call
Aug 14 (Reuters) - LANXESS AG LXSG.DE:
LANXESS CEO: INDUSTRIAL DEMAND AND SPECIALTY ADDITIVES SEGMENT HAVE TO FACE FIERCE COMPETITION FROM CHINA -CONF CALL
LANXESS CEO: THERE'S A LOT OF PRESSURE BECAUSE CHINESE COMPANIES NO LONGER SELL THEIR PRODUCTS IN AMERICAN MARKET, INSTEAD IN EU MARKETS -CONF CALL
LANXESS CEO: THEY REDUCED THEIR PRICES TREMENDOUSLY AND WE FEEL THAT REALLY TURNS UPSIDE DOWN CHEMICALS INDUSTRY IN EU AND GERMANY -CONF CALL
LANXESS CEO: TARIFFS WEIGH ON EVERYONE'S WELFARE, SO WE DON'T CONSIDER THIS IS THE RIGHT WAY TO PROCEED -CONF CALL
LANXESS CEO: THIS WILL HELP THAT THERE IS AN AGREEMENT FOR TARIFFS, AND WE CAN USE 15% RATE RATHER THAN 30% OR 50% -CONF CALL
LANXESS CEO: NEVERTHELESS, TARIFFS AND ESCALATION SINCE APRIL WEAKEN Q2 FOR ALL INDUSTRIES -CONF CALL
LANXESS CEO: WE'LL BE SEING THAT Q3 WILL BE AFFECTED BY THIS MASSIVE UNCERTAINTY -CONF CALL
LANXESS CEO: INDUSTRY IN EU WILL PICK UP A LITTLE BIT IN Q4 AND TURN OUT TO BE A LITTLE MORE STABLE -CONF CALL
LANXESS CEO: WE WILL BE MORE CERTAIN WITH RESPECT TO PLANNING AT THAT TIME -CONF CALL
LANXESS CEO: WE HOPE ALL PARTIES CONCIEVE FROM ECONOMIC DATA AND WE RETURN TO REASONABLE STRATEGIES AND ECONOMIC POLICY -CONF CALL
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