SGL acquire Portuguese acrylic fibre maker €25 million

SGL to acquire Portuguese acrylic fibre maker for €25 million

2:55 AM, 26th March 2012
SGL to acquire Portuguese acrylic fibre maker for €25 million

WIESBADEN, GERMANY: SGL Group has signed a contract to acquire an 86 per cent stake in Portuguese company Fisipe – Fibras Sinteticas de Portugal, from the previous principal shareholder, Negofor. Thus, SGL Group is expanding its production network for the supply of raw materials for carbon fibre production to include a production facility for precursors, the carbon fibre raw material based on polyacrylonitrile fibres (PAN). The purchase price is approximately €25 million.

At the same time, a mandatory public offer will be submitted to the Portuguese securities commission for the remaining shares in Fisipe. The closing for the transaction is targeted for the end of April 2012. Fisipe’s top management will continue in leading roles in the company’s operating business once the transaction is complete. Additionally, the facility will continue to manufacture acrylic fibres for special textile and technical applications.

“As an integrated manufacturer of carbon fibres and composites, having our own supply of raw materials is absolutely essential in light of increasing quality and efficiency requirements as well as developing new fields of application for carbon fibre technology. This is why acquiring Fisipe is a logical strategic step toward strengthening our European precursor production base,” said Dr Jurgen Kohler, Head of Business Unit Carbon Fibres & Composite Materials, SGL.

© WOC News

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