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Expansion of market position in synthetic brushes - Lenzing

13
Apr '07
The Lenzing Group acquires the assets of German plastics producer Pedex + Co GmbH through its subsidiary Lenzing Plastics GmbH. Pedex is a leading supplier of special filaments for industry and trade in Germany.

The company previously generated sales of EUR 12 mill..It produces plastic filaments used for applications in cosmetics and hygiene, such as toothbrushes and medical equipment, as well as brushes for industrial, professional and domestic applications.

Thomas Fahnemann, chairman of the Lenzing management board, reasons: "The acquisition of Pedex is a good extension of our recent takeover of the Hahl Group whose production emphasis is on industrial synthetic brushes".

Pedex will be able to make optimum use of the European distribution network of the Lenzing Group. By this acquisition the Group expands its position in this attractive market niche. The Pedex production site in Affolterbach/Hesse is to be expanded in step with demand.

Pedex was founded in 1967 and was subsequently acquired by Coronet, which significantly expanded the production of synthetic brushes, such as for dental hygiene. The acquisition by Lenzing follows insolvency proceedings. Pedex expects a positive result again already for the current business year 2007.

The focus of the company is on high-quality filaments. It thereby counters cost pressure from Eastern European and Asian competitors. Pedex intends to enhance its position as leader in innovation.

Lenzing Group


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