Germany’s SGL now controls 97% of Portugal’s Fisipe

10 July 2012 09:53  [Source: ICIS news]

SINGAPORE (ICIS)--Germany’s SGL said on Tuesday it has raised its stake in Portuguese acrylic fibre producer Fibras Sintéticas de Portugal SA (Fisipe) to 97% from 86% previously.

SGL has completed acquiring the additional 10.8% stake in Fisipe from Quimifertil, the German firm said in a statement.

“Once the takeover proceedings are complete, Fisipe will be wholly-owned by SGL Group,” it said.

In April this year, SGL had completed acquisition of 86% of Fisipe at around €25m ($31m).

“With this transaction, SGL Group is expanding its production network for the supply of raw materials for carbon fibre production to include an additional production facility for precursors,” SGL said.

($1 = €0.81)

By: Pearl Bantillo
+65 6780 4359

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