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LNZ - Lenzing AG News Story

€45.8 0.6  1.2%

Last Trade - 25/09/20

Basic Materials
Mid Cap
Market Cap £1.11bn
Enterprise Value £1.89bn
Revenue £1.67bn
Position in Universe 340th / 1041

Lenzing sells German subsidiary as part of cost-cutting plan

Wed 15th April, 2015 12:54pm
VIENNA, April 15 (Reuters) - Speciality fibre maker Lenzing 
 LENZ.VI  sold its German subsidiary Dolan, Kelheim and a 
91-percent stake in European Carbon Fiber GmbH to WHEB Partners' 
Growth Fund 2 and Jan Verdenhalven, the Austrian group said on 
    Lenzing is pushing ahead with a cost-cutting programme. 
    "The sale comprises part of Lenzing's strategy to focus on 
its core business of man-made cellulose fibers," Lenzing Chief 
Financial Officer Thomas Riegler said in a statement. 
    Both sides agreed to keep purchase price confidential. 
 (Reporting By Shadia Nasralla; Editing by Michael Shields) 
 ((Shadia.Nasralla@thomsonreuters.com; +43 153 11 2256; +43 664 
390 6505;)) 
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