24.11.2003 – 08:37

Lenzing AG

euro adhoc: Lenzing AG
Mergers - Acquisitions - Takeovers
The Lenzing Group withdraws from US Minority Holding Lenzing Fibers Corporation (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.

With 21 November 2003 as the effective date, the residual share of
39% in Lenzing Fibers Corporation was transferred to the majority
shareholder of the company, a private equity group. The price paid
for the transfer was not disclosed.

"By selling off the remaining share, we have reached our objective,
namely to withdraw from the US minority holding Lenzing Fibers
Corporation," Thomas Fahnemann, Chairman of Lenzing AG's Board of
Management, comments on the transaction. Already at year-end 2001 and
in early 2002, Lenzing had transferred its majority in Lenzing Fibers
Corporation.

The transaction will have no implications on Lenzing AG’s result.
Lenzing Fibers Corporation will henceforth carry the name "Liberty
Fibers Corporation" as its company name.  
Whenever necessary, Lenzing will cover the American viscose fiber
market with supplies from Europe or Asia.

The Lenzing Group 
For years, the Lenzing Group, with its headquarters at Lenzing in
Upper Austria, has set standards in quality and innovativeness in the
field of man-made cellulose fibers. The fibers (Viscose, Modal and
Lyocell), made of wood, a renewable primary material, are used both
by the textile industry - for fashion applications, as home textiles
as well as technical textiles -  and the so-called nonwovens industry
(e.g. fleece materials for hygiene, medical and cosmetic
applications).

In addition, the Group also operates in the engineering and systems
construction sector, and as plastics and paper manufacturer.

Data and Facts - 2002:

Sales: EUR 626 mill.
Export share: about 80%
Production: 366,000 t of fibers
Staff: 3,365

end of announcement        euro adhoc 24.11.2003

Further inquiry note:

Mag. Angelika Guldt

Branche: Chemicals
ISIN: AT0000644505
WKN: 064450
Index: WBI
Börsen: Wiener Börse AG / official dealing
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Baden-Württembergische Wertpapierbörse / free trade

Original-Content von: Lenzing AG, übermittelt durch news aktuell