Lenzing sells periphery unit to focus on fibres - sportstextiles: Lea SportsTextiles

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Lenzing sells periphery unit to focus on fibres

18/04/2013
As part of its efforts to concentrate on its fibres business, Lenzing is selling 85% of its share of Lenzing Plastics to an Austrian bidding consortium led by Invest AG, the investment company of the Raiffeisen Banking Group Upper Austria.

Lenzing CEO Peter Untersperge said: “For strategic reasons Lenzing aims to increasingly focus on its core fibre business, which already accounts for 90% of consolidated sales. This change of ownership will enable Lenzing Plastics to grow and optimally exploit business opportunities under a new and experienced industrial owner."

In the 2012 financial year, Lenzing Plastics generated sales of EUR 109.4 million. It has been located at the Lenzing site for decades and will continue to make use of its infrastructure.

Heinrich Schaller, CEO of Raiffeisen Banking, said: “We see outstanding development potential in this high-tech Upper Austrian company, and consider Lenzing AG to be an excellent partner to develop the company.”

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