Investor Group Acquires Majority Lenzing Paper

Source from:  tr.itsmyiq.com Feb 29, 2008 03/03/2008

The Lenzing Group will transfer 60 percent of its shares in Business Unit Paper to a group of investors around lead by Ernst Brunbauer at the beginning of March. Lenzing AG will keep the remaining 40 percent. The new majority shareholder will operate Lenzing Paper at its site in Lenzing, Austria, as an independent business. The decision is fits into Lenzing's strategic focus on innovative cellulose fiber products, high-quality synthetic special fibers and thermoplastics. The group is world market leader in cellulose fibers and has acquired four companies in plastics in 2007 alone. Lenzing Paper is the smallest business unit of the Lenzing Group, with an annual production of 80,000 tons of specialty papers and a turnover of about €60 million. The current staff of about 130 will be taken over by the new majority shareholder. Enditem