Latin American group invests in Lenzing
Brazilian group Suzano is to acquire a 15% stake in cellulosic fibres group Lenzing from main shareholder B&C Group.
São Paulo-based Suzano describes itself as the world’s leading producer of wood pulp and one of Latin America’s largest paper producers. In its most recent annual results, it reported revenues of more than €7 billion.
B&C Group, an Austrian investment firm, said bringing Suzano on board would strengthen Lenzing’s position as “a global market leader for sustainable cellulosic fibres”.
The Brazilian group’s chief executive, Walter Schalka, commented that Lenzing was already a leading global supplier of fibres, but said: “We recognise opportunities for further growth with its established technology, product range and technical knowledge.”
