EANS-News: Lenzing AG Lenzing Now Owns 100% Stake in Pulp Producer Biocel
Paskov
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Company Information
Lenzing (euro adhoc) - Lenzing AG, listed on the benchmark index ATX of the
Vienna Stock Exchange and global market leader for man-made cellulose fibers,
has now acquired a 100% shareholding of the Czech pulp producer Biocel Paskov
A.S. Up until now Lenzing has held a 75% stake in the company. The seller of the
remaining 25% of the shares is the Austrian Heinzel Group, which had already
disposed of its 75% majority stake to Lenzing in April 2010.
Since 2010 Lenzing has been restructuring the Biocel Paskov facility to become a
"swing capacity" producer of pulp, involving total investments of about EUR 100
mn. Starting in the year 2013 Biocel Paskov will be able to completely produce
both paper pulp as well as high quality dissolving pulp used in the
manufacturing of cellulose fibers. A total of 60,000 tons of dissolving pulp
were already produced in the previous year, with plans calling for a production
volume of about 115,000 tons of this pulp quality in the current year.
In the course of 2013 Biocel Paskov will operate as one of the world's most
high-performance and advanced manufacturing plants for this special pulp thanks
to a further debottlenecking program, increased energy efficiency and new
recovery facilities. The nominal capacity of the plant will amount to 260,000
tons of dissolving pulp at that time. The pulp will mainly be used by the
Lenzing Group for its fiber production operations. This vertical backward
integration represents an important means for the Lenzing Group to safeguard its
raw material base, both in terms of prices and volumes.
Biocel Paskov commenced production in the year 1985 and was subsequently
modernized and expanded during the 1990s in line with ecological standards. The
Group led by the Austrian industrialist Alfred Heinzel acquired the plant in
2001, and continued the modernization drive. Since 2004 Biocel Paskov has been
cooperating with the neighboring sawmill operating by the Austrian Mayr-Melnhof
wood industry group, which contributes part of the raw materials needed to
manufacture pulp in the form of wood chips. Biocel Paskov employs a work force
of close to 400 people.
Further inquiry note:
Lenzing AG
Mag. Angelika Guldt
Tel.: +43 (0) 7672-701-2713
Fax: +43 (0) 7672-918-2713
mailto:a.guldt@lenzing.com
end of announcement euro adhoc
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company: Lenzing AG
A-A-4860 Lenzing
phone: +43 7672-701-0
FAX: +43 7672-96301
mail: a.guldt@lenzing.com
WWW: http://www.lenzing.com
sector: Chemicals
ISIN: AT0000644505
indexes: WBI, ATX, Prime Market
stockmarkets: free trade: Berlin, official market: Wien
language: English