LANXESS Lifts Force Majeure Declaration for Butyl Rubber Production in Sarnia
March 17, 2006
LEVERKUSEN -- Chemicals group LANXESS has lifted its force majeure declaration for the production of butyl rubber at its Sarnia, Canada, site issued at the beginning of the year. The declaration of force majeure had become necessary after the group had been forced to cut back production due to continued delivery problems with its Canadian raw material supplier, NOVA Chemicals (Canada) Ltd. NOVA had itself issued a force majeure notice in October 2005 and has now partially lifted this declaration having been able to produce and deliver raw materials for several weeks.
As expected, this case of force majeure will reduce EBITDA pre exceptionals in the 1st quarter of 2006 by less than EUR 10 million.
This news release contains forward-looking statements based on current assumptions and forecasts made by LANXESS AG management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
