Home / Knowledge / News / Textiles / Supervisory Board CM denies Birla sales rumors

Supervisory Board CM denies Birla sales rumors

Feb '07
The chairman of the Lenzing AG supervisory board, Karl Schmutzer, denies recurrent rumors concerning the sale of Lenzing AG to a strategic investor, in particular the Indian Birla Group.

"As a member of the management of B & C Holding GmbH, which holds an 88% stake in Lenzing AG, making it the biggest individual shareholder, I am able to confirm that we did not and do not hold sales talks of any kind concerning our share in Lenzing, neither with any strategic investor nor with any equity fund".

The strategy decided by the bodies of our company at its formation continues to remain unchanged: We are long-term key shareholders of major companies quoted on the Vienna stock exchange and we are committed to securing the continuity and expansion of these companies in a sustainable way.

Lenzing is a prime example of how appropriate our strategy has been and of how successfully we as owners' representatives implemented this strategy, jointly with staff and management. The investments made in the five years of our ownership caused the market capitalization of the company to triple and jobs to be secured in a sustainable way."

Karl Schmutzer assumes that the recurring takeover rumors are being deliberately spread by Lenzing AG competitors at Lenzing's customer base in order to cover up their own potential shortcomings in technology and product quality. He has advised the management board to consider taking legal action.

Lenzing AG holds the world top position in its segment: in terms of size, and even more, in terms of product quality and technological expertise. No synergy effects resulting from joining up with any competitor can be identified, in particular not for the Lenzing sites in Europe.

The chairman of the supervisory board continues to ensure "B & C Privatstiftung, the sole owner of B & C Holding GmbH, does not hold any talks concerning a sale of Lenzing AG and the strategy of our company continues unchanged. This has been confirmed to me personally by the members of the foundation board, Erich Hampel, Werner Floquet and Wolfgang Hofer."

Lenzing AG, Austria

Must ReadView All

European Commission proposes new EU GSP for 2024-2034 period

Textiles | On 24th Sep 2021

European Commission proposes new EU GSP for 2024-2034 period

The European Commission recently adopted the legislative proposal for ...


Press Release | On 24th Sep 2021

EURATEX president Paccanelli urges for support to tackle energy crisis

European Apparel and Textile Confederation (EURATEX) has announced...

Pic: Shutterstock

Apparel/Garments | On 24th Sep 2021

UK competition watchdog to crack down on green fashion claims

To help businesses understand how to communicate their green...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Switch was not 100% pandemic related

Textile Industry, Head honchos

Textile Industry
Head honchos

Uniform designing is a numbers game

Vandana Narang, National Institute of Fashion Technology

Vandana Narang
National Institute of Fashion Technology

Campus placements are low due to lockdowns

Daniele Uboldi,

Daniele Uboldi

EptaInks is the screen-printing division of Eptanova, a company that...

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor customises her own pair of...

Bharat Ahuja,

Bharat Ahuja

A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...

Dave Rousse, INDA

Dave Rousse

INDA, a global association of the nonwoven fabrics industry, has been...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Seth Casden, Hologenix

Seth Casden

Hologenix is a material sciences company dedicated to developing products...

Sunita Shanker, Label Sunita Shanker

Sunita Shanker
Label Sunita Shanker

Inspired by the rich traditional crafts of India, Sunita Shanker’s work is ...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Abhishek Agarwal, Purple Style Labs

Abhishek Agarwal
Purple Style Labs

Late Indian fashion designer Wendell Rodricks, is known for his...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

September 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Advanced Search