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Lenzing acquires share of 40% in Indonesian holding PGL
28
Jul '09
The Lenzing Group acquired a share of 40% in the Indonesian holding PGL (Pura Golden Lion). PGL has been operating the local fiber sales of PT. South Pacific Viscose since the foundation of the latter. Moreover, PGL holds a share of approximately 12% in PT. South Pacific Viscose.

The 40% share in PGL was bought from APAC Centertex, a listed Indonesian spinning group. The parties agreed not to disclose the sales price. The enlargement of its indirect share in the subsidiary PT. South Pacific Viscose from 86% to 91% will strengthen Lenzing's position in the Indonesian and all other Asian fiber markets.

PT. APAC CITRA CENTERTEX PT. APAC Citra Centertex (ACC) was founded in 1987. The company is active in the textile and textile product business, as well as in investment holdings. ACC has been listed on the Jakarta Stock Exchange since 1989. The majority shareholder of ACC is Growth Solution Ltd (58.77%). Other shareholders are PT. Apac Century Corp (18.76%) and other public and smaller investment companies (22.47%). ACC is a shareholder of its subsidiary PT. Apac Inti Corpora (AIC).

The Lenzing Group is an international group of companies with its headquarters in Austria, production sites in all major markets and a global network of sales and marketing offices. Lenzing provides the global textile and nonwovens industry with high-quality cellulose fibers. The company is the leading supplier in many business-to-business markets – from cellulose fibers to special plastic polymer products.

The Lenzing Group

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