Lanxess' Chairman Says The Co Is In A Good Position As Far As US Market Concerned -Conf Call
LANXESS AG's Chairman stated in a conference call that the company is well-positioned in the US market, noting that many products are exempt from recent US administration tariffs. He anticipates benefits in the coming months, with products previously sold in the US now shifting to Latin America and the EU. The overall impact is seen as neutral to slightly positive, although the indirect effects on the global economy could be significant but are difficult to quantify. The company is actively analyzing the effects of tariffs on its production chains.
May 8 (Reuters) - LANXESS AG (LXSG.DE) :
LANXESS AG- CHAIRMAN: AS FAR AS THE US MARKET IS CONCERNED, WE ARE IN A GOOD POSITION -CONF CALL
LANXESS AG- CHAIRMAN: US ADMINISTRATION PUT A LOT OF PRODUCTS ON EXEMPTIONS, SO NOT ALL THE PRODUCTS ARE IMPACTED -CONF CALL
LANXESS AG- CHAIRMAN: THERE ARE MANY PRODUCTS WHERE WE KNOW IN NEXT MONTHS, WE SHOULD BENEFIT FROM THE SITUATION -CONF CALL
LANXESS AG- CHAIRMAN: WE THINK LOTS OF PRODUCTS THAT USED TO BE SOLD IN US MARKET WILL NOW GO TO LATIN AMERICA AND EU -CONF CALL
LANXESS AG- CHAIRMAN: WE SEE IMPACT AS NEUTRAL, EVEN SLIGHTLY POSITIVE -CONF CALL
LANXESS AG- CHAIRMAN: BUT I CAN UNDERLINE THAT INDIRECT IMPACT ON GLOBAL ECONOMY COULD BE SIGNIFICANT, BUT CANNOT BE QUANTIFIED -CONF CALL
LANXESS AG- CHAIRMAN: WE ANALYZE THE EFFECT OF TARIFFS AND TARIFF DEVELOPMENT ON OUR PRODUCTION CHAINS -CONF CALL Further company coverage: (LXSG.DE)
(Gdansk Newsroom)
