Lenzing reduces stake in EQUI-Fibres
December 24, 2016 - Austria
The Lenzing Group, a global supplier of high-quality, botanic cellulose fibres to the global textile and nonwovens industry, has reduced its equity stake in EQUI-Fibres Beteiligungsgesellschaft mbH, Kelheim from 45 to 20 per cent. EQUI-Fibres is the parent company of Kelheim Fibres GmbH, which manufactures viscose fibres at its plant in Kelheim, Germany.
EQUI-Fibres reported total revenue of €162 million in 2015. The transaction represents the next logical step in the Lenzing Group’s implementation of its sCore TEN strategy. The buyer is a company represented by its managing directors Peter Untersperger and Gerald Schmidsberger. Untersperger is very familiar with both EQUI-Fibres and the fibre industry.
On the basis of this transaction, the financial result of the Lenzing Group for the current financial year is expected to increase by about €10-15 million. The payment of the stipulated purchase price is to take place starting in 2017. (GK)