Lenzing sells three business units; focus core fibre business

Lenzing sells three business units; to focus on core fibre business

9:39 AM, 4th July 2015
Lenzing sells three business units; to focus on core fibre business
Thomas Riegler, chief financial officer, Lenzing AG. (File photo)

LENZING, AUSTRIA: Within the context of the de-consolidation process launched in 2013 and the comprehensive restructuring of its technical operations already announced in 2014, Lenzing AG is continuing its strategy of more strongly focusing on its core business of producing man-made cellulose fibre, and is selling three business units of Lenzing Technik.

All the buyers plan to maintain business operations at the Lenzing site. Due to the expertise in their respective industries, this represents an opportunity for the business units and their employees to leverage synergies and be able to profitably grow in the future.

The Mechatronics business area (including Leno GmbH, Schorfling) will be acquired by the Austrian company Melecs, an internationally active switchgear and electronics firm.  

The Automation/Robotics unit will be sold to cts GmbH (Germany/Austria). The company is internationally active in the fields of energy technology, robotics and automation technology. 

The Sheet Metal business operations are to be sold to the Upper Austrian company GER4TECH (Spiessberger GmbH, HMS Mechatronik GmbH). He will sign a sales agreement for the business unit Lenzing Blechtechnik, with the objective to deconsolidate it on 30 Sept. 

“The entire staff will be retained in all three cases. The business units will continue to be operated under a new ownership structure. I am certain that these business units will have a good future with their new owners boasting relevant know-how in the respective industries. For its part, the divestment will enable Lenzing to focus even more on its core business of producing fibre,” said Thomas Riegler, chief financial officer, Lenzing AG.

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