13
THE NEWSPAPER FOR THE CHEMICAL AND LIFE SCIENCE MARKETS INTERNATI NAL INTERNATI NAL Chemicals Catalysts play a crucial role in dealing with the big changes in oil and gas feedstocks Page 6 6/2014 M&A-News: Pfizer abandoned its month-long battle to take over AstraZeneca on May 26 as the deadline to make a fi- nal offer under British law elapsed. Ineos and Solvay can pursue their asset merger to create Europe‘s lar- gest PVC producer as the European Commission accepted the jv part- ners‘ divestment proposals. More on Pages 2/3 Companies: Evonik might look for acquisitions worth over €1 billion. While soft- pedaling capital expenditure, CEO Klaus Engel did not rule out larger takeovers using equity financing. More on Page 5 Production: ExxonMobil has received final ap- proval from the US Environmental Protection Agency to build its 1.5 Mt/y ethane cracker in Baytown. BASF plans to build a world-scale methane-to-propylene complex on the US Gulf Coast to take advan- tage of low-cost, shale gas-derived ethane feedstock. Reports said the cost could exceed €1 billion. More on Page 6 NEWSFLOW Business Strategy — If Matthias Zachert mounted the steep steps to the new Lanxess headquarters on the Rhine River in Cologne, when return- ing to the German chemical producer as CEO on April l, he may have mused that the climb could be symbolic of the challenges he soon would be facing. When the now 46-year-old man- ager stepped down as CFO in 2011 to take the same position at Merck KGaA, the company whose financial affairs he had guided since its 2004 spinoff from Bayer was still “living at home” — headquartered at its former parent’s Leverkusen site. Axel Heitmann was still CEO and the share price was still rising. Just three years later, the situ- ation had radically changed. After several years of upward momentum — interrupted by an earnings slump of “historic proportions” in the 2008- 2009 economic crisis — Lanxess, a company with more than €8 billion in sales and assets in rubber, plas- tics, fine chemicals and intermedi- ates, had slipped into the red. The share price was rapidly losing ground. Heitmann, report- edly at odds with the supervisory board about how to turn the rudder around, was “out of office” — per- manently — and Zachert had been asked to take over the helm. What had led to the dramatic development, whose public airing was unusual for a German chemi- cal producer? Without explicitly pointing a finger at his predecessor, the new CEO — who as finance chief still held the purse strings when some of the now controversial investment decisions were made — has hinted that over the past several years too much money was spent on too many of the wrong things. Or at least at the wrong point in the cycle. Rising Capital Spending Perhaps in an effort to shed the company’s unflattering image as “Bayer’s bargain basement” or sim- ply lulled by the siren song of the stock market — Lanxess’ papers were elevated to the DAX 30 blue- chip index in 2012 — observers say its management clearly overheard or chose to ignore warning signs that market conditions were dete- riorating. Worldwide rubber output was already swelling as Lanxess, with leading positions in such high per- formance specialties as EPDM, S-SBR, Nd-PBR and butyl rubber, announced several new projects. Low-cost competitors were entering the market. In Europe especially, the motor of growth in the automotive industry, on which the company de- pends for around 40% of its overall sales – was beginning to sputter. As Lanxess’ historical charts re- veal, capital spending budgets rose sharply from €275 million in 2009 to just under €700 million in 2012 before tapering off to around €625 million in 2013 and 2014. In March 2013, reporting on 2012, Heitmann declared the year just ended “the best in our growth story so far. Our business model proved itself once again.” Not quite three months later, presenting fig- ures for Q1 2013, he blamed the “weak start” on “a poor business climate worldwide.” By half-year reporting time in August, the then-CEO conceded that “customers were destocking,” only to confirm a month later plans for a new €235 million, 160,000 t/y EPDM rubber plant at Changzhou, China. Lanxess’ biggest-ever investment in the People’s Republic is set for start- up in 2015, as is its 140,000 facility for Nd-PBR rubber — billed as the world’s largest — in Singapore. With Q3 net earnings down 88% year-on-year and the writing on the wall, in September 2013 Heitmann was obliged to announce plans for a new efficiency scheme, one of sev- eral in the company’s short history. The Advance program, expected to return annual savings of €100 mil- lion from 2015, could lead to the loss of 1,000 jobs by year’s end. Impacted by impairment charges of €257 million in the Performance Polymers segment, which along with engineering plastics PA and PBT in- cludes elastomers, and Performance Chemicals with the rubber chemi- cals unit, Lanxess’ full-year balance sheet for 2013 showed a net loss, of €159 million, for the first time since 2005. Let’s Lanxess Again At his first press conference as CEO in May 2014, Zachert highlighted some of his plans for a return to growth. Under the heading “Let’s Lanxess Again,” the newest restruc- turing scheme, steered by Boston Consulting Group, at least has a verbal new twist. To ease the financial burden of restructuring and replenish its di- minished cash flow, the company a day earlier announced it had quietly increased equity. With subscription rights of current shareholders ex- cluded, 8.3 million shares, equal to 10% of equity and priced at €52 each, were placed with institutional investors in an accelerated book- building process. The flotation net- ted €430 million. In Cologne, Zachert explained to journalists that Lanxess’ portfolio was imbalanced, in particular too dependent on the automotive sec- tor. In view of the increasingly com- petitive landscape and its high level of indebtedness, the company must become “significantly more competi- tive and profitable.” The heavy emphasis on rubber that existed when Lanxess was cre- ated increased further with the sub- stantial investment of recent years, he noted. Of the €3.4 billion capital spending for 2009-2013, Perfor- mance Polymers received more than 60%, compared with 20% for Perfor- mance Chemicals and only 15% for Advanced Intermediates. Zachert said overhead costs have also increased substantially since 2009 and are now back at the level of 2005, before the fledgling company’s first restructuring effort began. R&D costs have risen 110% since 2007, and the debt-to-EBITDA ratio is too high. Turning Heitmann’s remark about the successful business model on its ear, his successor suggested that to deal with heightened com- petition, higher energy costs and increasing complex customer re- lationships, a new model could be needed, a reevaluation of Lanxess’ entire strategy required, While optimizing administrative structures and streamlining deci- sion-making, Zachert said he wants to improve customer and market orientation in the business units. Toward this goal, management will analyze the profitability of produc- tion sites and consider mothballing or even permanently shuttering plants. Adapting to the Competitive Environment “We are currently facing major chal- lenges — especially as the competi- tive environment for our business with synthetic rubber has changed. And this is clearly reflected in our results for fiscal 2013,” Zachert said at this year‘s Annual Meeting of Stockholders a couple of weeks ago. To make its rubber activities more competitive and balance the portfolio, Lanxess will seek partner- ships with other producers, custom- ers or raw materials suppliers for businesses that have lost some of their bounce. In the herculean effort to restore profitability, Zachert will need to perform some fancy footwork, but financial analysts and shareholders and employees alike seem convinced that the avid runner, physically not a tall man, will be able to fill the tall order. On the news of his return to his former employer, Lanxess shares’ rose 9%, while Merck’s fell 11%. In reaction to the successful equity in- crease, shares also nudged higher. Most observers believe the finan- cial markets will give Zachert — who is credited with excellent communi- cations skills — a longer breathing spell than many new CEOs. Analysts have already applauded the part- nership plan, with one speculating that — depending on the outcome — divestment of a majority stake in rubber assets could generate up to €1.7 billion. While job cuts in the 17,000-mem- ber workforce appear a foregone conclusion as the scheme progress- es, at a recent meeting with their new top boss in Leverkusen, German staff at least seemed to feel assured their jobs were safe — especially as most of Lanxess’ rubber production is based outside the country. To the stockholders, Zachert said: “I would like to already prepare you today for the fact that the next two to three years won’t be easy. But I am sure that Lanxess as a company will emerge from the realignment stronger than before.” Outlook for 2014 Somewhat Brighter Even if Zachert has warned that it could take two or three years for the company to twist again like it did just that many years ago, his fore- cast for full year 2014 appeared to signal no especially unpleasant sur- prises in the short term. With sales down 2.5% to €2 bil- lion in Q1, net profit was flat at €25 million. While Performance Polymers shed nearly 7% and Ad- vanced Intermediates just over 3%, revenue of Performance Chemicals rose nearly 6%. The 10% rise in EBITDA pre-exceptionals is credited to “positive effects” in all segments, a lower cost base resulting from the Advance scheme and the absence of one-off charges. For the second quarter of 2014 the company’s EBITDA pre-excep- tionals is expected to come in at €220-240 million, and settle in the range of €770-830 million for the full year 2014, up from €735 mil- lion a year earlier. Dede Williams The Steep Climb Back to Profit New Lanxess CEO Matthias Zachert Prepares the First Steps Regions The market for chemicals and pharmaceuticals in Brazil, the host country of the FIFA World Cup Pages 11-16 We are currently facing major challenges. Matthias Zachert, CEO, Lanxess Lanxess will emerge from the realignment stronger than before. SOCMA Marketplace and Chemical Services Directory From SOCMA, the only U.S. organization representing the specialty chemical industry www.SOCMA ChemicalDirectory.com Search 200+ top notch companies, 24/7access by: 400+ Reactions 200+ Capabilities Toll Capacities Products, Equipment Certifications, Awards and more! Y O U R D R I N K I N G B O T T L E A T T H E G Y M Y O U R D R I N K I N H C H C H C H C H H C H C H C H C H C H C C C H H H C H C H C H C H C H C H C H C H C H C H C H C H C H H C C C H H H C C C C C C C H H C C C C H H H H C C H H H H C C H H H H H C H O H C C C H C C H C C C C C C C C C C O C C H H H H H H C C C C H H H H H H H H H H H G H H H C H H C H N E R H C H C D R I N C H H C H C C C H H C C C C C H H Y Y O O U U R PORT OF T OF R ANTWERP W www.portofantwerp.com/en/chemical-cluster po / s m/en/chem www.CHEManager.com INTERNATI NAL INTERNATI NAL VALID FROM OCTOBER 2014 MEDIA KIT 2015 Dear business partner,

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Page 1: 6/2014 INTERNATI NAL · 2019. 9. 18. · With Q3 net earnings down 88% year-on-year and the writing on the wall, in September 2013 Heitmann was obliged to announce plans for a new

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THE NE W S PAPER FOR THE

CHEMICAL AND

L IFE S C IENCE MAR K E TS

INTERNAT I NALINTERNAT I NALChemicals

Catalysts play a crucial role in dealing with the big changes

in oil and gas feedstocks

Page 6© Aurielaki - Fotolia.com

6/2014

M&A-News:Pfizer abandoned its month-long battle to take over AstraZeneca on May 26 as the deadline to make a fi-nal offer under British law elapsed.

Ineos and Solvay can pursue their asset merger to create Europe‘s lar-gest PVC producer as the European Commission accepted the jv part-ners‘ divestment proposals.

More on Pages 2/3 ▶

Companies:Evonik might look for acquisitions worth over €1 billion. While soft-pedaling capital expenditure, CEO Klaus Engel did not rule out larger takeovers using equity financing.

More on Page 5 ▶

Production:ExxonMobil has received final ap-proval from the US Environmental Protection Agency to build its 1.5 Mt/y ethane cracker in Baytown.

BASF plans to build a world-scale methane-to-propylene complex on the US Gulf Coast to take advan-tage of low-cost, shale gas-derived ethane feedstock. Reports said the cost could exceed €1 billion.

More on Page 6 ▶

NEWSFLOW

Business Strategy — If Matthias

Zachert mounted the steep steps to

the new Lanxess headquarters on the

Rhine River in Cologne, when return-

ing to the German chemical producer

as CEO on April l, he may have mused

that the climb could be symbolic of the

challenges he soon would be facing.

When the now 46-year-old man-ager stepped down as CFO in 2011 to take the same position at Merck KGaA, the company whose financial affairs he had guided since its 2004 spinoff from Bayer was still “living at home” — headquartered at its former parent’s Leverkusen site. Axel Heitmann was still CEO and the share price was still rising.

Just three years later, the situ-ation had radically changed. After several years of upward momentum — interrupted by an earnings slump of “historic proportions” in the 2008-2009 economic crisis — Lanxess, a company with more than €8 billion in sales and assets in rubber, plas-tics, fine chemicals and intermedi-ates, had slipped into the red.

The share price was rapidly losing ground. Heitmann, report-edly at odds with the supervisory board about how to turn the rudder around, was “out of office” — per-manently — and Zachert had been asked to take over the helm.

What had led to the dramatic development, whose public airing was unusual for a German chemi-cal producer?

Without explicitly pointing a finger at his predecessor, the new CEO — who as finance chief still held the purse strings when some of the now controversial investment decisions were made — has hinted that over the past several years too much money was spent on too many of the wrong things. Or at least at the wrong point in the cycle.

Rising Capital Spending

Perhaps in an effort to shed the company’s unflattering image as “Bayer’s bargain basement” or sim-ply lulled by the siren song of the stock market — Lanxess’ papers were elevated to the DAX 30 blue-chip index in 2012 — observers say its management clearly overheard or chose to ignore warning signs that market conditions were dete-riorating.

Worldwide rubber output was already swelling as Lanxess, with leading positions in such high per-formance specialties as EPDM, S-SBR, Nd-PBR and butyl rubber, announced several new projects. Low-cost competitors were entering the market. In Europe especially, the

motor of growth in the automotive industry, on which the company de-pends for around 40% of its overall sales – was beginning to sputter.

As Lanxess’ historical charts re-veal, capital spending budgets rose sharply from €275 million in 2009 to just under €700 million in 2012 before tapering off to around €625 million in 2013 and 2014.

In March 2013, reporting on 2012, Heitmann declared the year just ended “the best in our growth story so far. Our business model proved itself once again.” Not quite three months later, presenting fig-ures for Q1 2013, he blamed the “weak start” on “a poor business climate worldwide.”

By half-year reporting time in August, the then-CEO conceded that “customers were destocking,” only to confirm a month later plans for a new €235 million, 160,000 t/y EPDM rubber plant at Changzhou, China. Lanxess’ biggest-ever investment in the People’s Republic is set for start-up in 2015, as is its 140,000 facility for Nd-PBR rubber — billed as the world’s largest — in Singapore.

With Q3 net earnings down 88% year-on-year and the writing on the wall, in September 2013 Heitmann was obliged to announce plans for a new efficiency scheme, one of sev-eral in the company’s short history. The Advance program, expected to return annual savings of €100 mil-lion from 2015, could lead to the loss of 1,000 jobs by year’s end.

Impacted by impairment charges of €257 million in the Performance Polymers segment, which along with engineering plastics PA and PBT in-cludes elastomers, and Performance Chemicals with the rubber chemi-cals unit, Lanxess’ full-year balance sheet for 2013 showed a net loss, of €159 million, for the first time since 2005.

Let’s Lanxess Again

At his first press conference as CEO in May 2014, Zachert highlighted some of his plans for a return to

growth. Under the heading “Let’s Lanxess Again,” the newest restruc-turing scheme, steered by Boston Consulting Group, at least has a verbal new twist.

To ease the financial burden of restructuring and replenish its di-minished cash flow, the company a day earlier announced it had quietly increased equity. With subscription

rights of current shareholders ex-cluded, 8.3 million shares, equal to 10% of equity and priced at €52 each, were placed with institutional investors in an accelerated book-building process. The flotation net-ted €430 million.

In Cologne, Zachert explained to journalists that Lanxess’ portfolio was imbalanced, in particular too dependent on the automotive sec-tor. In view of the increasingly com-petitive landscape and its high level of indebtedness, the company must become “significantly more competi-tive and profitable.”

The heavy emphasis on rubber that existed when Lanxess was cre-ated increased further with the sub-stantial investment of recent years, he noted. Of the €3.4 billion capital spending for 2009-2013, Perfor-mance Polymers received more than 60%, compared with 20% for Perfor-mance Chemicals and only 15% for Advanced Intermediates.

Zachert said overhead costs have also increased substantially

since 2009 and are now back at the level of 2005, before the fledgling company’s first restructuring effort began. R&D costs have risen 110% since 2007, and the debt-to-EBITDA ratio is too high.

Turning Heitmann’s remark about the successful business model on its ear, his successor suggested that to deal with heightened com-

petition, higher energy costs and increasing complex customer re-lationships, a new model could be needed, a reevaluation of Lanxess’ entire strategy required,

While optimizing administrative structures and streamlining deci-sion-making, Zachert said he wants to improve customer and market orientation in the business units. Toward this goal, management will analyze the profitability of produc-tion sites and consider mothballing or even permanently shuttering plants.

Adapting to the Competitive Environment

“We are currently facing major chal-lenges — especially as the competi-tive environment for our business with synthetic rubber has changed. And this is clearly reflected in our results for fiscal 2013,” Zachert said at this year‘s Annual Meeting of Stockholders a couple of weeks ago.

To make its rubber activities more competitive and balance the portfolio, Lanxess will seek partner-ships with other producers, custom-ers or raw materials suppliers for businesses that have lost some of their bounce.

In the herculean effort to restore profitability, Zachert will need to perform some fancy footwork, but financial analysts and shareholders and employees alike seem convinced that the avid runner, physically not a tall man, will be able to fill the tall order. On the news of his return to his former employer, Lanxess shares’ rose 9%, while Merck’s fell 11%. In reaction to the successful equity in-crease, shares also nudged higher.

Most observers believe the finan-cial markets will give Zachert — who

is credited with excellent communi-cations skills — a longer breathing spell than many new CEOs. Analysts have already applauded the part-nership plan, with one speculating that — depending on the outcome — divestment of a majority stake in rubber assets could generate up to €1.7 billion.

While job cuts in the 17,000-mem-ber workforce appear a foregone conclusion as the scheme progress-es, at a recent meeting with their new top boss in Leverkusen, German staff at least seemed to feel assured their jobs were safe — especially as most of Lanxess’ rubber production is based outside the country.

To the stockholders, Zachert said: “I would like to already prepare you today for the fact that the next two to three years won’t be easy. But I am sure that Lanxess as a company will emerge from the realignment stronger than before.”

Outlook for 2014 Somewhat Brighter

Even if Zachert has warned that it could take two or three years for the company to twist again like it did just that many years ago, his fore-cast for full year 2014 appeared to signal no especially unpleasant sur-prises in the short term.

With sales down 2.5% to €2 bil-lion in Q1, net profit was flat at €25 million. While Performance Polymers shed nearly 7% and Ad-vanced Intermediates just over 3%, revenue of Performance Chemicals rose nearly 6%. The 10% rise in EBITDA pre-exceptionals is credited to “positive effects” in all segments, a lower cost base resulting from the Advance scheme and the absence of one-off charges.

For the second quarter of 2014 the company’s EBITDA pre-excep-tionals is expected to come in at €220-240 million, and settle in the range of €770-830 million for the full year 2014, up from €735 mil-lion a year earlier.

Dede Williams

The Steep Climb Back to ProfitNew Lanxess CEO Matthias Zachert Prepares the First Steps

Regions

The market for chemicals and pharmaceuticals in Brazil, the host

country of the FIFA World Cup

Pages 11-16

We are currently facing major challenges.

Matthias Zachert, CEO, Lanxess

Lanxess will emerge from the realignment stronger than before.

© Giuseppe Porzani - Fotolia.com

SOCMA Marketplace and Chemical Services

Directory

From SOCMA, the onlyU.S. organization

representing the specialtychemical industry

www.SOCMAChemicalDirectory.com

Search 200+ top notchcompanies, 24/7access by:

400+ Reactions200+ Capabilities

Toll CapacitiesProducts, Equipment

Certifications, Awards and more!

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PORT OFT OFRANTWERPW

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KIT2015

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Catalysts play a crucial role in dealing with the big changes

in oil and gas feedstocks

Page 6© Aurielaki - Fotolia.com

6/2014

M&A-News:Pfizer abandoned its month-long battle to take over AstraZeneca on May 26 as the deadline to make a fi-nal offer under British law elapsed.

Ineos and Solvay can pursue their asset merger to create Europe‘s lar-gest PVC producer as the European Commission accepted the jv part-ners‘ divestment proposals.

More on Pages 2/3 ▶

Companies:Evonik might look for acquisitions Evonik might look for acquisitions Evonikworth over €1 billion. While soft-pedaling capital expenditure, CEO Klaus Engel did not rule out larger

NEWSFLOW

Business Strategy — If Matthias

Zachert mounted the steep steps to

the new Lanxess headquarters on the

Rhine River in Cologne, when return-

ing to the German chemical producer

as CEO on April l, he may have mused

that the climb could be symbolic of the

challenges he soon would be facing.

When the now 46-year-old man-ager stepped down as CFO in 2011 to take the same position at Merck KGaA, the company whose financial affairs he had guided since its 2004 spinoff from Bayer was still “living at home” — headquartered at its former parent’s Leverkusen site. Axel Heitmann was still CEO and the share price was still rising.

Just three years later, the situ-ation had radically changed. After several years of upward momentum — interrupted by an earnings slump of “historic proportions” in the 2008-2009 economic crisis — Lanxess, a company with more than €8 billion in sales and assets in rubber, plas-tics, fine chemicals and intermedi-ates, had slipped into the red.

The share price was rapidly losing ground. Heitmann, report-edly at odds with the supervisory board about how to turn the rudder around, was “out of office” — per-manently — and Zachert had been asked to take over the helm.

What had led to the dramatic development, whose public airing was unusual for a German chemi-

motor of growth in the automotive industry, on which the company de-pends for around 40% of its overall sales – was beginning to sputter.

As Lanxess’ historical charts re-veal, capital spending budgets rose sharply from €275 million in 2009 to just under €700 million in 2012 before tapering off to around €625 million in 2013 and 2014.

In March 2013, reporting on 2012, Heitmann declared the year just ended “the best in our growth story so far. Our business model proved itself once again.” Not quite three months later, presenting fig-ures for Q1 2013, he blamed the “weak start” on “a poor business climate worldwide.”

By half-year reporting time in August, the then-CEO conceded that “customers were destocking,” only to confirm a month later plans for a new €235 million, 160,000 t/y EPDM rubber plant at Changzhou, China. Lanxess’ biggest-ever investment in the People’s Republic is set for start-up in 2015, as is its 140,000 facility for Nd-PBR rubber — billed as the world’s largest — in Singapore.

With Q3 net earnings down 88% year-on-year and the writing on the wall, in September 2013 Heitmann was obliged to announce plans for a new efficiency scheme, one of sev-eral in the company’s short history. The Advance program, expected to return annual savings of €100 mil-lion from 2015, could lead to the loss of 1,000 jobs by year’s end.

Impacted by impairment charges of €257 million in the Performance

rights of current shareholders ex-cluded, 8.3 million shares, equal to 10% of equity and priced at €52 each, were placed with institutional investors in an accelerated book-building process. The flotation net-ted €430 million.

In Cologne, Zachert explained to journalists that Lanxess’ portfolio was imbalanced, in particular too dependent on the automotive sec-tor. In view of the increasingly com-petitive landscape and its high level of indebtedness, the company must

petition, higher energy costs and increasing complex customer re-lationships, a new model could be needed, a reevaluation of Lanxess’ entire strategy required,

While optimizing administrative structures and streamlining deci-sion-making, Zachert said he wants to improve customer and market orientation in the business units. Toward this goal, management will analyze the profitability of produc-tion sites and consider mothballing or even permanently shuttering

Adapting to the Competitive Environment

“We are currently facing major chal-lenges — especially as the competi-tive environment for our business with synthetic rubber has changed. And this is clearly reflected in our results for fiscal 2013,” Zachert said at this year‘s Annual Meeting of Stockholders a couple of weeks ago.

To make its rubber activities more competitive and balance the portfolio, Lanxess will seek partner-ships with other producers, custom-ers or raw materials suppliers for businesses that have lost some of

In the herculean effort to restore profitability, Zachert will need to perform some fancy footwork, but financial analysts and shareholders and employees alike seem convinced that the avid runner, physically not a tall man, will be able to fill the tall order. On the news of his return to his former employer, Lanxess shares’ rose 9%, while Merck’s fell 11%. In reaction to the successful equity in-

is credited with excellent communi-cations skills — a longer breathing spell than many new CEOs. Analysts have already applauded the part-nership plan, with one speculating that — depending on the outcome — divestment of a majority stake in rubber assets could generate up to €1.7 billion.

While job cuts in the 17,000-mem-ber workforce appear a foregone conclusion as the scheme progress-es, at a recent meeting with their new top boss in Leverkusen, German staff at least seemed to feel assured their jobs were safe — especially as most of Lanxess’ rubber production is based outside the country.

To the stockholders, Zachert said: “I would like to already prepare you today for the fact that the next two to three years won’t be easy. But I am sure that Lanxess as a company will emerge from the realignment stronger than before.”

Outlook for 2014 Somewhat Brighter

Even if Zachert has warned that it could take two or three years for the company to twist again like it did just that many years ago, his fore-cast for full year 2014 appeared to signal no especially unpleasant sur-prises in the short term.

With sales down 2.5% to €2 bil-lion in Q1, net profit was flat at €25 million. While Performance Polymers shed nearly 7% and Ad-vanced Intermediates just over 3%, revenue of Performance Chemicals rose nearly 6%. The 10% rise in EBITDA pre-exceptionals is credited to “positive effects” in all segments,

The Steep Climb Back to ProfitNew Lanxess CEO Matthias Zachert Prepares the First StepsNew Lanxess CEO Matthias Zachert Prepares the First Steps

Regions

The market for chemicals and pharmaceuticals in Brazil, the host

country of the FIFA World Cup

Pages 11-16

We are currently facing major challenges.

Matthias Zachert, CEO, Lanxess

© Giuseppe Porzani - Fotolia.com

SOCMA Marketplace and Chemical Services

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Klaus Engel did not rule out larger takeovers using equity financing.

More on Page 5 ▶

cal producer? Without explicitly pointing a

finger at his predecessor, the new

Polymers segment, which along with engineering plastics PA and PBT in-cludes elastomers, and Performance

of indebtedness, the company must become “significantly more competi-tive and profitable.”

The heavy emphasis on rubber

or even permanently shuttering plants.

Adapting to the Competitive Environment

“We are currently facing major challenges — especially as the competitive environment for our business with synthetic rubber has changed. And this is clearly reflected in our results for fiscal 2013,” Zachert said at this year‘s Annual Meeting of Stockholders a couple of weeks ago.

To make its rubber activities more competitive and balance the portfolio, Lanxess will seek partnerships with other producers, customers or raw materials suppliers for businesses that have lost some of

In the herculean effort to restore profitability, Zachert will need to perform some fancy footwork, but financial analysts and shareholders and employees alike seem convinced that the avid runner, physically not a tall man, will be able to fill the tall order. On the news of his return to his former employer, Lanxess shares’ rose 9%, while Merck’s fell 11%. In reaction to the successful equity inreaction to the successful equity increase, shares also nudged higher.

Most observers believe the finan-cial markets will give Zachert — who

to “positive effects” in all segments, a lower cost base resulting from the Advance scheme and the absence of one-off charges.

For the second quarter of 2014 the company’s EBITDA pre-excep

reaction to the successful equity increase, shares also nudged higher.

Most observers believe the financial markets will give Zachert — who

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Trifluormethylierung von Alkenen Aufsatz von M. Sodeoka und H. EgamiBiaryl-Biosynthese Kurzaufsatz von T. A. M. Gulder et al.Das schwer fassbare Cyanformiat-Anion Highlight von A. Schulz et al.

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CHEManager International: Based in Europe, Connected with the World.

Overview

Publication Frequency 8 issues per yearVolume Vol. 10, 2014Print run 20,000 (IVW audit 2nd quarter 2014)Membership IVW Web address (URL) www.chemanager.com/enPublishing house Wiley-VCH Verlag GmbH & Co. KGaA

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Product Manager Dr. Michael ReuboldEditor-in-Chief Dr. Ralf KempfAdvertising Sales Manager Thorsten KritzerAdvertising Administration Claudia VogelSubsription (print) € 87.00 (+ VAT)Single copy rate € 14.10 (+ VAT, + shipping)Subscription for students € 43.50 (+ VAT)ISSN 1861-0404Format of the newspaper 350 x 510 mm (Rheinisches Format)Content Analysis 2012 10 issuesTotal pages 240 pages = 100 %Editorial 200 pages = 80 %Advertising 40 pages = 20 %Supplements 1

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DISTRIBUTION

Circulation Breakdown 2013

COPIES PER ISSUE COPIES

Print run 20,000

Promotional copies 300

Total circulation 19,199

Archive, sample copies 501

Distribution Breakdown

GEOGRAPHICAL DISTRIBUTION %

Germany 13.7

Americas 11.0

United Kingdom, Ireland 10.8

Asia 10.0

Benelux 9.8

Eastern Europe 8.3

Switzerland 8.0

France 8.0

Italy 4.5

Austria 4.5

Scandinavia 4.4

Africa & Middle East 4.0

Spain & Portugal 3.0

CHEManager International is the leading publication for the global chemical and life science industries. With an distribution of 20,000 copies, 8 times a year, bonus distribution at important industry events and an online edition, CHEManager International is the number one publication for managing and executive staff in the chemical, pharmaceutical and adjoining up- and downstream industries. Nine out of 10 CHEManager International readers hold upper- or middle-manage-ment positions and are qualified officers for purchasing, acquisition and investment decisions.

Distribution by Industry

45.2 %

34.9 %

6.5 %5.1 %

2.4 %

1.6 % 1.0 %2.2 % 1.1 %

Chemical and Petrochemical Industry

Plant Construction / Engineering

Life Sciences*

* Pharma/Agro./Biotech.

Plastics / Coatings

Cosmetics / Personal Care

Transportation & Logistics

Food & Beverage

Financial / Corporate Consulting

Others

POSITION %

CEO, General Manager, Managing Director 29.1

Head of Production 10.2

Head of Technical Services 8.1

Plant Manager 7.3

Head of R&D 8.0

Laboratory Heads 6.6

Head of Sales & Marketing 5.6

Head of Purchasing 4.9

Head of IT 3.0

Head of Logistics 3.8

Head of Quality, Quality Managers 3.3

Other Department Heads 3.5

Others 6.6

Editorial Analysis (full year 2012)

TOPIC %

Markets / Companies 44

Production 19

Pharma** 11

Chemicals / Polymers 10

Industrial Sites 3

Logistics 1

Energy 1

Others 11

** only pharma specials, the total amount of content related to the pharmaceutical industry is 39 %

Take a look at our online version! Registration is free and al-lows access to not only the current issue, but to back issues as well. Find articles on specific topics and companies with the advanced search function. www.CHEManager.com

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DATES & CONTENTS

ISSUES January/February 1–2

March/April 3–4

May 5

June 6

Publishing date 22.01.2015 26.03.2015 07.05.2015 03.06.2015

Advertising deadline 08.01.2015 12.03.2015 20.04.2015 18.05.2015

Editorial deadline 10.12.2014 16.02.2015 25.03.2015 20.04.2015

TRADE SHOWS/CONFERENCES

World Economic Forum Davos,

21.–24.01.2015

DCAT Week New York,

16.–19.03.2015

FECC Congress Athen,

06.–08.05.2015

Achema Frankfurt/Main, 15.–19.06.2015

Cool Chain Logistics Europe Luxembourg,

27.–28.01.2015

Hanover Fair Hanover,

13.–17.04.15

Transport Logistic Munich,

05.–08.05.2015

BIO International Convention

Philadelphia, 15.–18-06.2015

Informex USA New Orleans,

03.–05.02.2015

LogiPharma Europe Basel,

14.–17.04.2015

CESIO Instanbul,

01.–03.06.2015

Chemspec Europe Cologne,

24.–25.06.2015

ChemSpec Asia Singapore,

04.–05.02.2015

European Coatings Show Nuremberg,

21.–23.04.2015

Annual Meeting Pharma Frankfurt,

24.–25.02.2015

Interphex New York,

21.–23.04.2015

Lope-C Munich,

04.–05.03.2015

LogiChem Europe Antwerp,

16.–18.04.2015

SECTIONS AND SPECIALS

Markets • CompaniesInterviews, market reports, news from chemical, pharma-ceutical, biotech, petrochemical, agrochemical and plant engineering industries

■ ■ ■ ■

Management • StrategyInnovation and R&D management, human resources, company management strategies, risk management, marketing, regulatory affairs, portfolio & asset management, financing, sustainability

■ ■ ■ ■

Supplements Distribution & Logistics

Specials Pharma Coatings Production

Regional Special North America China IndiaCentral +

Southern Europe

Chemistry • Life SciencesFine and specialty chemicals, basic chemicals, petrochemicals, raw materials, plastics, detergents, active ingredients, catalysts, chemical distribution, services, pharma chemicals, APIs, HPAPIs, excipients, outsourcing

■ ■ ■ ■

LogisticsSupply chain management, services, transportation and storage, cold-chain management, strategies

Industrial Sites & LocationsIndustrial settlement, site development and investments, site management, services and infrastructure

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DATES & CONTENTS

ISSUES July/August 7–8

September 9

October 10

November/December 11–12

Publishing date 30.07.2015 03.09.2015 08.10.2015 19.11.2015

Advertising deadline 14.07.2015 18.08.2015 24.09.2015 05.11.2015

Editorial deadline 18.06.2015 23.07.2015 27.08.2015 12.10.2015

TRADE SHOWS/CONFERENCES

EuCheMS Confernce Leipzig,

22.–25.09.2015

EU PVSEC Amsterdam,

22.–26.09.2015

Sepawa Congress Fulda,

14.–16.10.2015

SPS/IPC Drives Nuremberg,

24.–26.11.2015

Specialty & AgroChemicals Americas

Charleston, 15.–17.09.2015

Fakuma Friedrichshafen, 13.–17.10.2015

Health Ingredients Europe

Paris, 01.–03.12.2015

ChemOutsourcing September 2015

CPhI Worldwide Madrid,

13.10.–15.10.2015

EPCA Annual Meeting October

SECTIONS AND SPECIALS

Markets & CompaniesInterviews, market reports, news from chemical, pharma-ceutical, biotech, petrochemical, agrochemical and plant engineering industries

■ ■ ■ ■

Management • StrategyInnovation and R&D management, human resources, company management strategies, risk management, marketing, regulatory affairs, portfolio & asset management, financing, sustainability

■ ■ ■ ■

SupplementsRegions & Locations

Guide

Specials Pharma Anniversary Issue

Regional SpecialSouth +

Latin AmericaWestern +

Northern EuropeSouth-East Asia

Middle East + North Africa

Chemistry • Life SciencesFine and specialty chemicals, basic chemicals, petrochemicals, raw materials, plastics, detergents, active ingredients, catalysts, chemical Distribution, services, pharma chemicals, APIs, HPAPIs, excipients, outsourcing

■ ■ ■ ■

LogisticsSupply chain management, services, transportation and storage, cold-chain management, strategies

■ ■

Industrial Sites & LocationsIndustrial settlement, site development and investments, site management, services and infrastructure

■ ■

Production ManagementPlant engineering and design, plant construction and maintenance, process automation and control, chemical and pharmaceutical processing technology, packaging

■ ■ ■ ■

Energy • Environmental IssuesPolitics, energy management, energy generation, renewable energy, environmental and climate protection, environmental technology

■ ■

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Bank Details:Commerzbank AG P2, 12 · 68161 Mannheim, GermanyIBAN: DE94 6708 0050 0751 1188 00BIC/S.W.I.F.T.: DRES DE FF 670

VAT-Id.No.: DE 813481633 Tax No.: 47020/21620

All prices are subject to 19% VAT.

The new price list comes into effect on 1 October 2014 and supersedes all previous price lists.

PREFERRED POSITIONS FORMAT (MM) PRICE € 4C

width height

Title page 215 74 4,410

Title corner inside (e.g. Production, Pharma, Logistics, Chemicals)

50 35 635

Inside cover(e.g. Production, Pharma)1

6,260

BUSINESSPARTNER (105 x 59 mm w x h) TOTAL PRICE € 4C

3 Issues 1,120

6 Issues 2,130

8 Issues 2,630

10 Issues 3,170

1 Cancellation only possible up to 8 weeks before advertising deadline. Title page: The pic-ture must be coordinated with publisher in advance and GIT Publishing has exclusive rights for 6 months.

2 Costs per thousand – including postage; no discount for loose inserts, sample must be sent before order can be accepted.

3 Minimum height is 30 mm Cipher charge € 10.–

Reprint and PDF2 Pages 4c, 135 g/m2 4 Pages 4c, 135 g/m2 glossy art print glossy art printPrint run 1,000 copies 1,073.00 € Print run 1,000 copies 1,495.00 €Print run 2,000 copies 1,263.00 € Print run 2,000 copies 1,782.00 €plus VAT, postage and packaging. Further print runs and differing scales on request.

We can provide a pdf file of your article for your internet presentation for a nominal charge of € 250.– (+ VAT). Printable PDF on request.

For further information on reprints please contact Thorsten Kritzer, Tel.: +49 (0) 6201 606 730 or visit our website at www.gitverlag.com/en/global/corporate_publishing/reprints/

Magazine Overview Dates & Contents Prices & Formats Technical Data SpecialsupplementsDistribution Online ContactGeneral terms

of Business

Newspaper format350 x 510 mm (width x length)325 x 455 mm (width x length), print spaceNumber of columns: 6, column width 50 mm

Print methods Colors Application Screen ruling of paintNewspaper web press Euro scale max 240 % 40 ruling(Roll offset) no special colours possible

Instructions for printing specifications in newspaper print available as a PDF at www.gitverlag.com/en/global/ order_management/data_transfer/ (bitly: http://bit.ly/1qmeJEI)

InsertsMinimum insert size: 105 x 148 mmMaximum insert size: 240 x 350 mm (w x h) the back fold must be on the long side (350 mm)Minimum weight for single-sheet inserts: 170 g/m²

Delivery of loose inserts/bound-in insertsDelivery quantity: 20,200 copies

The delivery address for bound-in inserts and any supplements will be given to you with the order confirmation.

Data formatsWe accept the following data formats: PDF, EPS, TIFF, JPG.

Please observe the following points:1. Embed all text or convert it into streams.2. Use only CMYK colours. 3. With pixel-oriented data formats (colour/greyscale), we require a

resolution of at least 250 dpi. Bitmap files (line) should have a resolution of at least 1200 dpi.

4. For the creation of PDF files with Acrobat Distiller, we have provided you with a Joboptions file which can be downloaded at www.gitverlag.com/en/global/order_management/data_transfer/.

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6. Do not send pre-separated or DCS files.

Use of “open files”If you send us program-specific data formats, e.g. InDesign, QuarkXpress, CorelDraw, we cannot guarantee that the layout will not change upon printing (text, separations, line weight etc.).

To avoid errors, please observe the following:Send all text to be used and associated files together. Attach a hard copy/print-out to the layout check. Ensure that no RGB colours are used in any files, including the associated files. For files from pro-grammes not intended for the creation of printed documents (e.g. Word, Excel, Powerpoint), the files must always be converted. This means inevitable changes in data and considerable additional work, which we have to add to your invoice. In some cases, conversi-on is not possible. All tasks necessary to create “print-ready” files will be charged to you according to time spent. Transmission options• by e-mail to [email protected]• by FTP at ftp.gitverlag.com/incoming• by CD Rom to Wiley-VCH Verlag GmbH & Co. KGaAFAO: Claudia VogelBoschstrasse 1269469 Weinheim, GermanyTel.: +49 (0) 6201 606 758Fax: +49 (0) 6201 606 790

TECHNICAL SPECIFICATIONS

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SPECIAL SUPPLEMENTS

Apart from 8 regular issues of CHEManager International we publish two special supplements: Distribution & Logistics and Regions & Locations Guide. These annual supplements published in an attractive tabloid-size format offer our readers in-depth information, reports and articles on the respective topics covered.

Distribution & Logistics for the Chemical and Life Science Industries

Regions & Location Guide for the Chemical and Life Science Industries

Volume 2May 2014

1

INTERNAT I NALINTERNAT I NALINTERNAT IINTERNAT I NALNALINTERNAT IINTERNAT IINTERNAT IINTERNAT IINTERNAT IINTERNAT IINTERNAT IINTERNAT IINTERNAT IINTERNAT IINTERNAT IINTERNAT I NALNALNALNALNALNALNALNALNALNALNALNALNALNAL

Volume 6December 2013

1

Chemical Parks

Life Science Clusters

Economic Perspectives

Europe – Americas – Asia

Investment Opportunities

Chemical distribution and logistics services play a crucial role in the supply chain of chemical and pharmaceutical products. The English-language special supplement on topics related to chemical logistics and chemical distribution will be inserted in the entire circulation of CHEManager International‘s and CHEManager’s May issues and will be distributed at dedicated industry events.

Frequency: 1 issue per yearEditorial Deadline: 04.04.2015Advertising deadline: 21.04.2015Publishing date: 30.04.2015

Print run: 65,000 copiesCirculation: 63,000 inserted copies Bonus distribution: 2,000 copies

Featuring country and market reports as well as profiles of individual regions or locations, Regions & Locations Guide provides essential information for potential investors and assists top executives and strategic decision makers in the chemical and pharmaceutical industry in finding investment opportu-nities. The English-language special supplement will be inserted in the entire circulation of CHEManager International‘s and CHEManager’s December issues and will be distributed at dedicated industry events.

Frequency: 1 issue per yearEditorial Deadline: 15.10.2015Advertising deadline: 03.11.2015Publishing date: 17.11.2015

Print run: 65,000 copiesCirculation: 63,000 inserted copies Bonus distribution: 2,000 copies

Prices & Formats

ADVERTISEMENTS FORMAT (MM) PRICE € (4C)

width height

2/1 pages 455 303 12,140

1/1 page 215 303 7,420

1/2 page 215 152 4,230

Juniorpage 160 227 4,230

1/2 page portrait 105 303 4,230

1/2 page landscape 215 152 4,230

1/4 page portrait 50 303 2,050

1/4 page landscape 215 74 2,050

1/4 page classic 105 149 2,050

Cover pages* 240 330 8,150

Title page + story 8,550

* +10mm overlap

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Regardless of what type of marketing tactics and channels you use – from powerful traditional print advertising to engaging digital content marketing – quality content is always an essential part of it. Wiley‘s content solutions offer you access to highly respected publications and learning tools. Bene� t from 200 years of publishing experience, a trusted brand, authoritative content and incomparable scienti� c and professional communities. Get connected through Wiley content!

Content Solutions powering your Business!

Mix and match content campaigns to suit your marketing goals: Choose from tailored combinations of advertising, reprints, supplements and other traditional strategies, as well as powerful microsites, mobile apps, email campaigns, and interactive online learning environments.

Contact us to � nd out how Wiley content solutions could help drive your marketing strategy.

AdvertisingReaching the minds that matter most: Whether print or online, Wiley advertising offers access to highly targeted, in� uential audiences of decision makers and opinion leaders in key markets around the world. 19.5 million experts read Wiley journals in print or on WileyOnlineLibrary 100,000 decision makers in industry read our b2b publications (GIT VERLAG brand)

WebinarInteract with your target group: Our free-to-attend online seminars engage targeted audiences in real time as well as on-demand – offering a wealth of opportunities to showcase your brand, build thought leadership, deliver training, and more.

MicrositeConnect through content: Engage with your target group and position your company as thought leader or technology expert in a certain � eld. Whether you choose the stand-alone version or a microsite integrated in our b2b portals, you will bene� t from promotion campaigns and best technical service.

Reprints & SponsorshipIn� uence through education: Whether you choose a � yer, single article, collection of articles or abstracts with a cover, reprints and ePrints deliver the right content and right brand messages to your target audience. Or raise your pro� le in a special target group by sponsoring a comple-mentary subscription to respected Wiley online journals.

Custom Publishing & Supplements Position your brand: Grow brand awareness with a supplement – an extra issue of a peer-reviewed Wiley journal – or a corporate publishing project like customer or company magazines or corporate books. Rely on our editorial expertise and independence as well as our experienced layout team.

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Our editorial know-how, combined with in-depth knowledge of industry and a passion for sophisticated design makes us one of the most success-ful Corporate Publishing project providers.

Many companies rely on the competence of Wiley-VCH and GIT for the realisation of their projects:

▪ Co-Brand-Publishing ▪ Customer magazines ▪ Employee newsletters

Sonderausgabe

VliesstoffeVliesstoffe

DiloGroupPostfach 1551 · 69405 Eberbach / DeutschlandTel. +49 6271 940-0 · Fax +49 6271 711 [email protected]

Generalunternehmer für komplette Nonwovens-Anlagen: Informationsmanagement und Enginee-ring, Finanzierung, Logistik, Montage, Inbetrieb-nahme, Service und Schulung.

Öffnungs- und Mischungskomponenten für Syn-thetik- und Naturfasern, Maschinen zur Gewin-nung und Reinigung von Naturfasern. Hoher Fa-serdurchsatz und hohe Mischungspräzision.

Universal- und Hochleistungskrempelmaschinen, Wirrkrempeltechnologie, DeltaCard, Mehrfachab-nehmer, Vliesstrecke, Airlay-Maschinen. Große Arbeitsbreiten über 5 m, hohe Florgeschwindig-keiten bis zu 400 m/min.

Hochgeschwindigkeits- und Universal-Vliesleger und Nadelmaschinen DI-LOOM, Hyperpunch Nadel-maschinen, Strukturierungs- und Musterungsma-schinen DI-LOOP und DI-LOUR, Arbeitsbreiten bis zu 16 m, Hubfrequenzen bis zu 3000 min-1.

Rohstoffe, Herstellung, Anwendung, Eigenschaften, Prüfung

Herausgegeben von Hilmar Fuchs und Wilhelm Albrecht

2. vollständig überarbeitete Auflage

Herausgegeben von Hilmar Fuchs und Wilhelm Albrecht

2011

AUTHORS:

Hubert Jäger Wilhelm Frohs Manfred Banek Walter BaurMartin CadekMartin ChristGerd CollinJohann DaimerKlaus DrechslerFranz FendtLudger FischerAndrew FoleyClaus FriedrichFlorian GojnyUdo GruberWerner Handl

Tilo Hauke Bernhard HeidenreichMichael HeineFrank HiltmannAndreas HirschNicole Lützenburger Peter MitschangJohn MontminyNorbert MüllerOswin ÖttingerHartmut OstermannRüdiger zu ReckendorffKeith Roussel Sandra SitterHeinz VoggenreiterKarl WimmerOtto Vostrowsky

The W

orld

of C

arb

on

& G

rap

hite

Hubert Jäger and W

ilhelm Frohs

Broad Base. Best Solutions.Technology & Innovation | SGL CARBON GmbHWerner-von-Siemens-Straße 18 | 86405 Meitingen/Germanywww.sglgroup.com

The World of Carbon & Graphite

Hubert Jäger and Wilhelm Frohs

The World of Carbon & Graphite

Reprint fromULLMANN'S Encyclopedia of Industrial Chemistry

Edited by© Wiley-VCH Verlag GmbH & Co. KGaA EGNATON

Notes plus

February 2014 European Association for sustainable Laboratories

Hints and Strategies for the Stakeholders in the Laboratory Industry

Topics to consider for sustainable Lab Design Particular sustainable Solutions

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Banner advertisingGive your company an image, show your presence, communicate a product launch - in short: benefi t from our scope. Complement your print campaign and increase your market penetration with an image campaign on chemanager-online.com/en.

chemanager-online.com/en is the portal for top executives and decision makers of the chemical and pharmaceutical industry and the relevant supply and application sectors. Everybody who wants to stay on the cutting edge of industry news should not miss chemanager-online.com/en.

Leaderboard 728 x 90 Pixel € 1,310 / month, run of site*

Full Banner 468 x 60 Pixel € 930 / month, run of site

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Skyscraper 120 x 600 Pixel € 1,360 / month, run of site

Rectangle 180 x 150 Pixel € 1,470 / month, run of site

Medium Rectangle 300 x 250 Pixel € 1,820 / month, run of site

* “run of site“ means that the ad placements may appear on any page of the target site. In a rotating scheme with a maximum of four banners at one position.

Medium Rectangle€ 1,820

Rectangle€ 1,470

Leaderboard€ 1,310

& Full Banner€ 930

Page Peel€ 1,940

Wide Skyscraper€ 1,730

& Skyscraper€ 1,360

www.chemanager-online.com/en

Product Information€ 285 for 6 months / € 510 for 12 months

æ text (1,000 letters incl. blanks) æ product photos æ company contactsæ in combination with PRO-4-PRO.com

Your product information appears also at vertical product search engine PRO-4-PRO.com, in a suitable sub-segment.

Jobs: Job advertisement € 895 up to 3 months

NewsletterDate of publication: every fortnight on even weeks. In case of “Product Feature”, the product will be highlighted one time in the newsletter.

Wide Skyscraper€ 1,730

& Skyscraper€ 1,360

Full Banner€ 930

Product-Feature€ 950

incl. price for Product-

Information

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Technical Data:Please send your fi les by mail to your sales representative. We will take care of all further steps.

Banner:Size of data: max. 40 KB, Flash (SWF no FLV)Data formats: GIF, JPGTarget-website: please tell us the exact URL, where your banner should be linked to.Exception Flash banner: We require an additional banner as GIF or JPG for users without Flash.Exception Newsletter: Only static banners, no animated GIF and no Flash.

Product Information:Text: up to 1,000 characters incl. blanksPictures: JPG, PNG, TIF

Webcasts:Data format: Flash (FLV no SWF)Size of data: max. 40 MB

Wide Skyscraper 160 x 600 Pixel € 1,730

Skyscraper 120 x 600 Pixel € 1,360

Full Banner 468 x 60 Pixel € 930

Product Feature € 950

Newsletter: Banner formats & prices

Whitepapers / Application NotesThe ideal format to present your expertise in full detail and to generate leads. Application notes, market or case studies are the perfect presentation form for companies, whose content differs from their competitors.

ä Whitepaper: € 830 for 6 months Including: Teaser text, product photos,

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WebcastThis multi-media advertising format is the perfect supplement to your banner advertising and whitepaper on chemanager-online.com/en.

ä Webcast: € 830 for 6 months Including: Teaser text, product video,

company address

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Microsites enable you to focus on a specific topic, thereby addressing potential customers specifically. This makes them an ideal tool for breaking into new markets, strengthening your image as an opinion leader and expert or establishing yourself in a new field and creating demand for your products. Whatever the goal of your communica-tion might be, the success of a Microsite depends heavily on relevant and high quality content.

Use our editorial content, our journalistic competence and our media to achieve success. Profit from the image transfer, credibility and scope of our media and use our target group portals as neutral plat-forms and disseminators.

Microsite “BASIC” Pre Running Time Running Time Running Time Running TimeMedia ServiceCreation of the site, Hosting, Project Management, Evaluation, Online editing (as agreed), Banners and Product features provided by the client.**

At least 6 weeks for conception and

promotion 3 months 6 months 12 months

Promotion 1 x Rectangle Banner on Portal for 3 months; 1 x Product Feature in e-Newsletter X1 x Rectangle Banner on Portal for 6 months; 2 x Product Feature in e-Newsletter X1 x Rectangle Banner on Portal for 12 months; 3 x Product Feature in e-Newsletter XTariffs Microsite ”BASIC” * 6 weeks € 8,500 € 15,300 € 27,200

Microsite “PREMIUM” Pre Running Time Running Time Running Time Running TimeMedia ServiceCreation of the site, Hosting, Project Management, Evaluation, Online editing (if desired/agreed to), Banners and Product features provided by the client.**

At least 6 weeks for conception and

promotion 3 months

6 months including 1 exchange of editorial content

12 months including 2 exchanges

of editorial contentPromotion

1 x Wide Skyscraper Banner on Portal for 3 months; 2 x Product Feature in e-Newsletter; 1 x Full Banner e-Newsletter X

1 x Wide Skyscraper Banner on Portal for 6 months; 4 x Product Feature in e-Newsletter; 1 x Full Banner e-Newsletter X

1 x Wide Skyscraper Banner on Portal for 12 months; 6 x Product Feature in e-Newsletter; 1 x Full Banner e-Newsletter X

Tariffs Microsite “PREMIUM” * 6 weeks € 10,500 € 18,900 € 33,600

Microsite “Stand alone” Pre Running Time Running Time Running Time Running Time

Multiply con� gurable websites based on Wordpress, incorporation of diverse media possible, search function, registration possibilities, external news feeds, incorporation of social media, optimization for mobile devices, evaluation etc.

3 months 6 months 12 months

18 weeks on request on request on request

* Discount not available ** If desired the publishing house will create the printing material for an additional fee.

Webinar “BASIC”Conception, Promotion Tariff

Media Service Hosting, Project Management, Live-Streaming, Delivery of all Leads, Editorial Announcements OnlineBanner und Product Feature provided by the client **

Promotion1 x Wide Skyscraper Banner on Portal for 2 months; 1 x Product Feature in e-Newsletter; Reminder email to participants 24 hours and 1 hour before begin.

Tariff Webinar “BASIC” * 10 weeks € 8,500

Webinar “PREMIUM” Conception, Promotion Tariff

Media Service Hosting, Project Management, Live-Streaming, Delivery of all Leads. Editorial Announcements OnlineBanner und Product Feature provided by the client **

Promotion1 x Wide Skyscraper Banner on Portal for 2 months; 2 x Product Feature in e-Newsletter, 1 x Wide Skyscraper Banner in e-Newsletter,Reminder email to participants 24 hours and 1 hour before begin.

Tariff Webinar “PREMIUM” * 10 weeks € 11,000

FOCUSING ON YOUR TOPIC

MICROSITES

WEBINARS

Enter into dialogue with your target group, generate leads and use the diverse possibilities for interaction with your clients (e.g. via the Chat function). Whether in real time or on demand you are offering your clients or co-workers valuable educational content and information independent of place, time or travel budget.

You can fully rely on our experts to assist you in the implementation. Experienced project managers look after all the technical and organizational details. The editorial department will advise and support you in questions about content and concept and a communications plan for the promotion of the webinar is, of course, also part of our concept.

* Discount not available ** If desired the publishing house will create the printing material for an additional fee.

Generate Leads

IN DIALOGUE WITH YOUR TARGET GROUP

Interactive Information Exchange

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GENERAL TERMS AND CONDITIONS FOR ADVERTISEMENTS, SUPPLEMENTS, DIGITAL AND ONLINE ADVERTISING

1. These General Terms and Conditions shall apply to all contracts (hereinafter referred to as “orders”) relating to the publication of one or several adverts of one advertiser (hereinafter: “client”) in the magazines of Wiley-VCH GmbH & Co. KGaA (hereinafter: “publisher”) for the purpose of dissemination and relating to the placement of online advertising on the publisher’s websites. They shall also apply to orders for third-party supple-ments in the magazines published by the publisher. The client acknowledges these General Terms and Conditions upon placing an order.2. Differing, confl icting or supplemental general terms and conditions of advertising clients will not be recognized as an integral part of the contract, unless the publisher expressly agrees to them.3. The following shall apply to clients wishing to place more than one advert: The discounts shown in the advert price list are only granted for advertisers’ adverts which appear in a printed product within one year. The timescale begins on the date of appearance of the fi rst advert, unless a different start date has been agreed in writing upon signing of the contract. The size of discount is based on volume. If, within a year, fewer adverts are taken than originally agreed, the publisher shall be entitled to re-calculate the discount based on the difference between the actual and guaranteed number taken.4. Upon contractual signing, the client shall be entitled to release further adverts in addition to the volume stated in the order within the agreed timeframe or that stated in clause 3.5. Order cancellations must be issued in writing. The cancellation charge imposed in the case of cancellation on the deadline date for the placement of the advertisement (or thereafter) is the total order value. In each specifi c instance, however, the client is expressly granted the right to provide proof that the contractor suffered no loss, or at any rate only a lower loss.6. Orders for adverts and other marketing material to be published specifi cally and exclusively in specifi c issues, specifi c publications or in specifi c places in the publication must reach the publisher in suffi cient time – i.e. not later than on the date specifi ed in the order confi rmation – for the client to be able to be informed before the advert deadline of whether the order can be executed in the requested manner.7. Adverts and online advertising not directly recognizable as adverts because of their editorial layout will be clearly marked with the word “Advert” by the publisher.8. The publisher reserves the right to reject advert orders – including individual adverts under a blanket contract – or orders for inserts, on grounds of content, origin or technical format, under its own standard and factually justifi ed principles if the content of such orders contravenes legal or regulatory stipulations or if their publication is unacceptable for the publisher. This applies to orders submitted to branch offi ces, receiving agencies or representatives. Orders for inserts are only binding for the publisher once the insert template has been submitted and approved. Inserts which, due to the format or appearance, may appear to the reader to be part of the newspaper or magazine, or which contain third-party adverts, shall not be accepted. Rejection of an order shall be communicated to the client without delay. In such cases, the publisher reserves the right to request repayment of any discounts granted.9. The client is responsible for punctual delivery of proper ready-to-print material or supplements or for punctual delivery of materials required for on-line advertising. In the case of digital ready-to-print material the client undertakes to deliver proper artwork, complying in particular with the format or the technical specifi cations of the publisher, punctually for the print material deadline. The publisher shall request replacement for recognizably inaccurate or damaged printing material without delay. The publisher guarantees print quality customary to that of the title concerned within the scope of the possibilities of the printing material. Before a digital transmission of artwork, the client is responsible for ensuring by means of suitable technical measures that the transmitted fi les are free of any computer viruses. Should the publisher discover computer viruses in a fi le transmitted by e-mail, said fi le will be deleted immediately without the possibility of the client making any related claims.10. Discernibly unsuitable or damaged ready-to-print material and/or advertising material is to be replaced by the client immediately when requested to do so by the publisher. The cost of producing ordered ready-to-print material and/or of producing ordered advertising material as well as of substantial alterations to originally agreed versions that are requested by the client and for which the latter is responsible due to the technical quality of the ready-to-print material and/or advertising material supplied will be borne by the client. Should any defi ciencies in the ready-to-print material and/or advertising material not be immediately discernible during the review process, but only become discernible in the printing operation and/or upon insertion, the client is not entitled to raise any claims on account of an inadequate printout and/or poor insertion.11. Print documents will only be sent to the client if specifi cally requested. The obligation of safekeeping ends three months after expiry of contract.12. In the case of audio and/or video linked advertising (e.g. banners that cause a pop-up window to open when clicked on, in which audio and/or video content is reproduced) the client is responsible for ensuring that the necessary approvals from GEMA [society for musical performing and mechanical reproduction rights in Germany] or other copyright associations and/or owners have been obtained.13. The client shall be entitled to a reduction in payment or a corrected replacement advert in cases of fully or partly illegible, incorrect or incomplete printing of adverts, but only to the extent that the purpose of the advert is affected. This shall be excluded if the defect results from incorrect ready-to-print material (see clause 10 above). Should the publisher allow the timeframe given to him to elapse or should the replacement advert still be incorrect, the client shall be entitled to a reduction in payment or cancellation of the contract. Complaints – except if defects are not obvious – must be asserted within four weeks from receipt of invoice and proof.

14. (1) The client’s claims for damages shall be excluded unless provided for otherwise hereinafter. This exclusion of liability shall also apply in favour of the publisher’s legal representatives and vicarious agents in the event that the client asserts claims against them.(2) Claims for damages on account of death, injuries or adverse health effects as well as claims for damages caused by a violation of essential contractual obligations shall be exempt from the liability exclusion in paragraph 1. Essential contractual obligations shall mean obligations, the fulfi lment of which is necessary in order to achieve the objectives of the contract, Liability for damages caused by intentional or grossly negligent breaches of obligations on the part of the publisher, his legal representatives or vicarious agents shall also be exempt from the liability exclusion.(3) The provisions of the German Product Liability Act (ProdHaftG) shall not be affected by the above.15. Sample print-outs will only be provided where specifi cally requested. The client shall be responsible for the correctness of the returned samples. The publisher shall observe all error corrections made known to it within the period specifi ed upon sending the sample. Should the client fail to return within the specifi ed period a sample sent on time by the publisher, approval for print shall be deemed to have been given.16. Unless any specifi c sizing requirements have been given, the amount to be charged shall be calculated based on the print size that is normal for the type of advert.17. The client avouches that his is the unconditional owner of all rights of use to the advertising material necessary for publication and distribution. In this respect he indemnifi es the publisher from all claims by third parties, and grants the publisher the rights of usage necessary for publication of the advertising material.18. The client avouches that he is entitled to set the hyperlinks connected to the online advertising. The client furthermore affi rms that he will abide by the applicable data privacy legislation – in particular of the Federal and the Teleservices Data Protection Act– and also impose such a responsibility on their employees. Should the client use special techniques such as cookies or tracking pixels to obtain or collect data from the insertion of advertising material in the online offering of the publisher, the client also affi rms that they will abide by the precepts of the German Telemedia Act (TMG) and/or of the Interstate Broadcasting Treaty (RfStV) as well as the Federal Data Protection Act (BDSG) in the collection, processing and use of personal data.19. Should the client fail to pay in advance, the invoice shall be sent immediately or within a maximum of fourteen days after publication of the advert. The invoice must be paid within the period given in the price list, starting from the date of receipt of invoice, unless a different payment period has been agreed in individual cases.20. In the event of a delay or deferral in payment, interest and recovery costs shall be added to the amount due. In the case of payment delay, the publisher may withhold further publication under the order concerned until payment is made and demand advance payments for the remaining adverts. Where there is established doubt over the client’s ability to pay, the publisher shall be entitled, even during the duration of an advertising contract, to make the publication of further adverts dependent on the prepayment of the sum due and the settlement of outstanding invoices, regardless of the payment terms originally agreed.21. The publisher shall provide, upon request, a copy of the advert along with the invoice. Depending on the type and scope of advertising contract, advert extracts, record pages or full record numbers will be provided. If a record can no longer be created, it will be replaced with a legally binding certifi cation from the publisher of the publication and distribution of the advert.22. In the event of a reduction in circulation, a price reduction may be claimed for contracts for a series of adverts if, in the overall average of the insertion year of the fi rst advert, the average circulation stated in the price list or stated any other way or, if a circulation fi gure is not given, the average number of issues sold (for trade magazines, where appropriate, the average actual distribution) in the previous calendar year is not exceeded. A reduction in circulation is only deemed as a defi ciency eligible for a price reduction if it amounts to– 20% for circulation of up to 50,000 copies– 15% for circulation of up to 100,000 copies– 10% for circulation of up to 500,000 copies– 5% for circulation of up to 500,000 copies.In addition, claims for price reductions are excluded for contracts if the publisher has given the client suffi cient notice of the reduction in circulation for the client to be able to cancel the contract before publication of the adverts.23. The publisher shall not be responsible for any delays in performance caused by unforeseeable events which the publisher cannot infl uence (such as strikes, lock-outs, disruption of operations, etc.). After the cessation of such events, the publisher may either publish adverts in the next possible issue of the printed work or online advertising medium, or withdraw from the contract – entirely or in part. In this context, the client shall not be entitled to claim damages.24. The place of performance and exclusive place of jurisdiction for all disputes shall – to the extent permitted by law – be the publisher’s head-quarters, at present Weinheim, Germany.25. The legal code of the Federal Republic of Germany shall be applicable under exclusion of the United Nations Convention on Contracts for the International Sale of Goods.

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