Lenzing Sells Plastics Filaments Business To GEP Consortium
Lenzing AG, Austria, has sold its plastics filaments business to a consortium of private investors
headed by Global Equity Partners (GEP), Austria. The business produces primarily plastic bristles
and monofilaments for industrial and consumer products; and includes Pedex GmbH and Hahl Filaments
GmbH, both based in Germany; Hahl Filaments s.r.o, Czech Republic; and Hahl Inc., Lexington, S.C.
"We want to focus our resources more on our core business cellulose fibers in the future," said Peter Untersperger, CEO, Lenzing, explaining that the plastics business would have better development potential under a different owner.
"The business is well positioned, their market position is very good and they ideally fit our investment focus on expanding medium-sized industrial companies," said Michael Tojner, CEO, GEP.
Lenzing also reported its 2010 financial results set an all-time high, with preliminary consolidated sales of 1.77 billion euros — up 45 percent over 2009 sales — and preliminary consolidated income from operations of 231.9 million euros — 103 percent higher than the 2009 total of $114.2 million euros. The company has invested considerable monies to expand its global fiber manufacturing capacity and anticipates positive results in the coming year and beyond because of its strong position in the cellulosic fiber sector.