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Chief: Lanxess has 'long way to go'.
- Article from:
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Pittsburgh Post-Gazette (Pittsburgh, PA)
- Article date:
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September 1, 2005
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Copyright informationCOPYRIGHT 2005 Pittsburgh Post-Gazette. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jim McKay
Sep. 1--The chief executive of Lanxess AG touted the new chemical company's initial success -- an 11 percent increase in second-quarter sales, a 40 percent jump in pre-tax profits and a higher stock price -- during a visit yesterday to its North American headquarters in suburban Findlay.
But Axel Claus Heitmann said he would not ease up on his drive to improve the results of the Germany-based global enterprise that was spun out of Germany's Bayer in January and formed mainly around inherited low-growth and low-margin businesses.
Lanxess took on its new name in July 2004, eight months after Bayer made the decision to spin off large portions of its ...
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