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15.04.2015 – 13:54

Lenzing AG

EANS-News: Lenzing AG
Lenzing Sells Dolan and European Carbon Fiber

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
  responsible for the content of this announcement.

Company Information

The Lenzing Group announces the sale of its fully owned German subsidiary Dolan
GmbH, Kelheim and its 91.1% stake in European Carbon Fiber GmbH, Kelheim to WHEB
Partners' Growth Fund 2 of England and Jan Verdenhalven. The corresponding
agreement was concluded on April 15, 2015. Both sides agreed to keep the
purchase price confidential.  
"The sale comprises part of Lenzing's strategy to focus on its core business of
man-made cellulose fibers. With WHEB and Jan Verdenhalven, Lenzing succeeded in
finding financially strong, industry-oriented new owners in which both companies
will be able to develop more effectively in the future than up until now",
comments Lenzing's Chief Financial Officer Thomas Riegler. "Moreover, it is
important for European Carbon Fiber that WHEB and Jan Verdenhalven already have
longstanding industrial experience in the carbon fiber business. The company now
has interesting growth perspectives once again through a potential cooperation
with other companies in the strategic investment portfolio of WHEB."
Dolan manufactures high quality specialty fibers on an acrylic basis which are
used for textiles, convertible car tops, as sunshades, for garden furniture and
protective clothing. Dolan is one of the major suppliers of convertible car tops
in Europe. The company employs a workforce of about 100 employees, generating
revenue of EUR 57.5 mn in 2014.  
European Carbon Fiber GmbH is a joint venture with Kelheim Fibres GmbH which
manufactures precursors for the carbon fiber industry. The company achieved
annual revenue of EUR 10.4 mn in 2014.

Further inquiry note:
Lenzing AG
Mag. Angelika Guldt
Tel.: +43 (0) 7672-701-2713
Fax: +43 (0) 7672-918-2713

end of announcement                               euro adhoc 

company:     Lenzing AG
             A-A-4860 Lenzing
phone:       +43 7672-701-0
FAX:         +43 7672-96301
sector:      Chemicals
ISIN:        AT0000644505
indexes:     WBI, ATX, Prime Market
stockmarkets: free trade: Berlin, official market: Wien 
language:   English

Original content of: Lenzing AG, transmitted by news aktuell