FRANKFURT, June 19 Lanxess, the
world's largest maker of synthetic rubber for tyres, continues
to grapple with a difficult business environment, it said on
"The market conditions remain challenging. Car and tyre
demand has not yet recovered," a company spokesman said, when
asked about market talk that finance chief Bernhard Duettmann
had sounded a cautious note during an investor presentation in
The spokesman cited Duettmann as saying during the
presentation that Lanxess was likely to reach the middle of its
previous target range.
Last month, Lanxess said it expected second-quarter adjusted
earnings before interest, taxes, depreciation and amortisation
(EBITDA) of 174-220 million euros ($233-$295 million).
European car sales plunged to the lowest level in two
decades for May, further eroding manufacturers' hopes for a
recovery this year.
The price of butadiene, the most important chemical raw
material used by Lanxess, has dropped, the spokesman added.
The shares extended losses and were 2.2 percent lower at
($1 = 0.7467 euros)
(Reporting by Ludwig Burger and Frank Siebelt)