ESSEN, Germany, March 7 (Reuters) – German diversified
chemicals maker Evonik plans to top up its annual
dividend by almost 9 percent even after sounding a cautious note
about this year’s earnings outlook.
The maker of feed additives, clear acrylic sheet and
high-tech plastics, which is controlled by a state-owned trust,
proposed a dividend of 1.00 euro ($1.40) per share on Friday, up
from 0.92 euros a year earlier – exceeding the 0.93 euro average
estimate in a Reuters poll of banks and
DARMSTADT, Germany, March 6 (Reuters) – The CEO-designate of
Lanxess said he would have to reverse a trend of
lavish cash outflows on investments at the world’s largest maker
of synthetic rubber for tyres, when he takes the helm on April
“The cash discipline was basically abandoned,” over the last
two to three years, CEO-designate Matthias Zachert said on the
sidelines of a press conference at drugs and chemicals maker
Merck KGaA, where Zachert will quit as finance chief
at the end of the month to return to his old employer.
FRANKFURT, March 6 (Reuters) – Germany’s Merck KGaA
, the worlds largest maker of liquid crystals for
display screens, reported an unexpected rise in underlying
profits on Thursday as the benefits of its cost cutting campaign
more than offset the impact of weaker foreign currency exchange
After a slew of setbacks in drug development, the group is
in the final phase of a restructuring effort, cutting more than
LEVERKUSEN, Germany, Feb 28 (Reuters) – Germany’s largest
drugmaker Bayer lifted its estimate for potential
sales of new drugs by billions of euros on Friday, softening the
blow of a fall in fourth-quarter earnings.
Adjusted earnings before interest, tax, depreciation and
amortisation (EBITDA) in the last three months of 2013 slipped
to 1.77 billion euros, dampened by a weak Japanese yen and
emerging-market currencies, the company said, missing the 1.91
billion euro average estimate in a Reuters poll.
FRANKFURT, Feb 27 (Reuters) – Bayer said it would
buy privately held Dihon Pharmaceutical Group Co, a maker of
traditional herbal Chinese medicines (TCM), as the German
drugmaker pushes to become the world’s largest non-prescription
With China’s healthcare spending forecast to nearly triple
to $1 trillion by 2020 from $357 billion in 2011, according to
consulting firm McKinsey, the country is a magnet for makers of
medicines and medical equipment, but many patients remain
strongly attached to traditional approaches.
FRANKFURT, Feb 26 (Reuters) – German synthetic rubber
specialist Lanxess said it would halve its dividend
after slumping to a net loss in 2013, as overcapacity and
rising costs forced it to write down the value of several of its
The surprise impairment charges of 257 million euros ($353
million), which sent Lanxess shares down as much as 6 percent on
Wednesday, come ahead of the arrival of its new chief executive
LUDWIGSHAFEN, Germany (Reuters) – BASF (BASFn.DE: Quote, Profile, Research, Stock Buzz), the world’s largest chemicals company by sales, predicted a small rise in operating profit this year, with an uncertain economic outlook tempering its optimism over growing demand from automakers and consumer goods companies.
The German firm did not specify on Tuesday what it meant by a slight increase in adjusted earnings before interest and tax (EBIT). But analysts had on average forecast a gain of almost 10 percent, and BASF shares fell more than 1.5 percent.
LUDWIGSHAFEN, Germany, Feb 25 (Reuters) – BASF,
the world’s largest chemicals company by sales, predicted
operating profit would edge higher this year on growing demand
from auto makers and consumer goods companies, after exceeding
expectations for quarterly earnings.
“In the Asian emerging markets and in Eastern Europe, we
forecast a significant increase in automotive production,” the
maker of catalytic converters, insulation foam and coatings said
FRANKFURT (Reuters) – European chemicals and plastics makers are cutting in-house research and instead trying to persuade industrial customers to work together on developing running shoes, cars or electronics.
Collaborating can cut millions of euros from research and development (R&D) budgets and translate into exclusive supplier contracts as chemical and plastics profits come under pressure from cheaper emerging market competition and rising fuel bills.
FRANKFURT (Reuters) – A German court on Tuesday sentenced a Rwandan Hutu to 14 years in jail for his role in the genocide of Tutsis in Rwanda in 1994, ending Germany’s first trial related to the mass killings in central Africa.
Onesphore Rwabukombe, who has lived in Germany since 2002, was a mayor in north Rwanda at the time of the genocide in which an estimated 800,000 people were killed in 100 days.