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04.05.2004 – 14:24

Lenzing AG

euro adhoc: Lenzing AG
Mergers - Acquisitions - Takeovers
Lenzing AG Acquires Tencel Group of Companies (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
Lyocell capacity tripled
With 4th May as the effective date, Lenzing AG is taking over the
entire Tencel group of companies. The seller is Corsadi BV,  part of
the international financial group CVC. The purchase agreements were
signed on 4th May. The price of the transaction was not disclosed.
The acquisition will further strengthen Lenzing’s position as one of
the leading manufacturers of high-quality, cellulose-based fibers in
the world.
Tencel operates one large-scale Lyocell plant in the USA (Mobile,
Alabama) and another in the UK (Grimsby), with a total nominal
capacity of about 80,000 tons per year, and - including its UK
support activities and marketing teams throughout the world - it has
a staff of about 350. The 2003 figure for sales was EUR 100 mill.
"The acquisition marks a milestone for the Lenzing Group," said
Thomas Fahnemann, Chairman of the Managing Board of Lenzing. "We are
tripling our Lyocell capacity and thereby reaching the critical size
that is necessary for a sustainable and profitable Lyocell
operation."Karl Schmutzer, Chairman of the Supervisory Board of
Lenzing AG and Managing Director of B & C Holding, the majority
owner, regarded the step as an "absolutely sensible economic decision
with far-reaching strategic significance for the Lenzing Group."
Please note: Press Conference today
Lenzing AG will give further information at a press conference which
will take place today, 4 May 2004, 06.00 p.m.(CET). Media
representatives are invited to attend this press conference in 1010
Vienna, Hotel Le Meridien, Opernring 13-15.
end of announcement        euro adhoc 04.05.2004

Further inquiry note:

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 of: Lenzing AG, transmitted by news aktuell

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