EANS-News: Lenzing AG
Lenzing AG finalizes acquisition of Biocel Paskov A.S.
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Joint Ventures/Cooperation/Collaboration
Lenzing (euro adhoc) - The anti-trust authorities have approved the acquisition of Czech pulp producer Biocel Paskov A.S.
The acquisition is an important strategic step towards the Group's long-term extension of its vertical backwards integration. The acquisition is part of a hedging strategy to protect Lenzing from the impact of high pulp price volatility. Pulp is the raw material used for the production of Lenzing viscose . Lenzing intends to invest EUR 50 mill. in the site's capacity expansion over the next three years and to remodel Biocel Paskov into a swing capacity pulp factory. This will provide Lenzing with the ability to flexibly adjust to any given pulp market situation and to either produce dissolving pulp for its own fiber production or paper pulp for external customers.
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Lenzing AG
Mag. Angelika Guldt
Tel.: +43 (0) 7672-701-2713
Fax: +43 (0) 07672-96301
mailto:a.guldt@lenzing.com
Branche: Chemicals
ISIN: AT0000644505
WKN: 852927
Index: WBI
Börsen: Berlin / free trade
Wien / official market
Original content of: Lenzing AG, transmitted by news aktuell