18 February 2011 17:12 [Source: ICIS news]
LONDON (ICIS)--Lenzing has sold its plastics filaments businesses to a consortium of private investors for an undisclosed fee, as the group streamlines its portfolio and focuses on its core business in cellulose fibres, the Austria-based firm said on Friday.
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The businesses mainly produce plastic bristles and monofilaments for a wide range of industrial and consumer goods, Lenzing said.
"We want to focus our resources more on our core business cellulose fibres in the future,” said Lenzing CEO Peter Untersperger.
“Our portfolio analysis showed that plastics filaments no longer perfectly match the Lenzing strategy and that this business will be given better long-term development potential by a different owner,” he added.
The CEO of Global Equity Partners, Michael Tojner, said: “The business is well positioned, their market position is very good and they ideally fit our investment focus on expanding medium-sized industrial companies."
He added: "Our goal is to enable the further development of products and markets of these companies and to support this process as an active partner.”
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