Austria’s Lenzing acquires remaining stake in Czech Biocel

03 October 2012 16:51  [Source: ICIS news]

LONDON (ICIS)--Lenzing has acquired the remaining 25% stake it did not already own in Czech pulp producer Biocel Paskov, the Austria-based cellulose fibre firm said on Wednesday.

Lenzing bought the stake from Austrian Heinzel Group which, in 2010, had sold its 75% majority stake in Biocel to Lenzing. Financial terms were not disclosed.

Lenzing said it had invested about €100m ($130m) to restructure Biocel to become a swing producer of pulp, producing both dissolving pulp for fibre, as well as pulp for paper.

Biocel is expected to have a nominal capacity for 260,000 tonnes/year of dissolving pulp next year, with the pulp mainly to be used by Lenzing for its fibre production operations, the company said.

“This vertical backward integration represents an important means for Lenzing to safeguard its raw material base, both in terms of prices and volumes,” it said.

($1 = €0.77)

By: Stefan Baumgarten
+1 713 525 2653

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