Although corporate sales fell 11% in the second quarter to $1.8 billion, Lonza executives said there was good news to report in the recently concluded period.
"At the start of the year I announced transformational steps as part of our focus & deliver initiative," said Lonza CEO Richard Ridinger. "Today I am very pleased to report that we have made significant progress in many areas. The successful reorganization of the company which we initiated in the first quarter will help us to move Lonza from a product oriented to a market oriented organization."
According to Lonza, specialty ingredients delivered a good performance, with substantially increased profitability in nearly all subsegments and in total. Positive developments such as the very strong demand for the agrochemical offerings, the good demand for high-performance products as well as the successful conclusion of the Arch integration balanced the significantly lower revenues in the recreational water business where the cold and rainy weather led to a record low in the first six months, after a record high for the same period in the prior year.