Lenzing sells plastics filaments business to consortium headed by Global Equity Partners

Lenzing, (PresseBox) - In order to further streamline its portfolio Lenzing AG has sold its plastics filaments businesses to a consortium of private investors headed by the Austrian group Global Equity Partners (GEP). The consortium jointly acquires directly and indirectly 100 % of the shares in Pedex GmbH (site Affolterbach, Germany), in Hahl Filaments GmbH (site Munderkingen, Germany), in Hahl Filamants s.r.o. (site Plana, Czech Republic), as well as in Hahl Inc. (site Lexington, USA). They produce mainly plastics bristles and monofilaments for a wide range of industrial and consumer goods. It has been agreed not to disclose the acquisition price.

Lenzing's CEO, Peter Untersperger, explained: "We want to focus our resources more on our core business cellulose fibers in the future. 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." GEP emerged as best bidder from a sales process.

GEP's CEO, Michael Tojner, on the acquisition: "The business is well positioned, their market position is very good and they ideally fit our investment focus on expanding medium-sized industrial companies. Moreover, they do have future growth potential in an interesting niche market. Our goal is to enable the further development of products and markets of these companies and to support this process as an active partner."

GEP

Global Equity Partners with managed assets of EUR 550 mill. is Austria's biggest private equity company and one of the leading independent investment houses in Central Europe.

The Groups' activities center around equity financing in Austria, Germany, Switzerland and Eastern Europe. The investment focus of Global Equity Partners is on expansion and high-tech, medium-sized companies and industry (Buy-Out Central Europe II), as well as long-term industrial investment.

GEP looks back on years of experience in all its fields of activity and has successfully accompanied many industrial enterprises. In Germany the GEP Group holds shares in renowned companies such as VARTA Microbattery, Buderus Foundry Wetzlar and others. GEP is an active partner and supports companies in implementing their growth and expansion strategies, as well as in sustainably developing their market positions.

Lenzing AG

The Lenzing Group is an international group of companies with its headquarters in Austria, production sites in all major markets and a global network of sales and marketing offices. Lenzing provides the global textile and nonwovens industry with high-quality cellulose fibers.

The company is the leading supplier in many business-to-business markets - from cellulose fibers to special plastic polymer products.

Lenzing quality and Lenzing innovative power set standards for man-made cellulose fibers world-wide. Seventy years of fiber production expertise make us the only producer world-wide of all three man-made cellulose fiber generations, from classic viscose to modal and lyocell. Lenzing's unique combination of consistent customer orientation with leadership in quality, innovation and technology is the foundation of our success.

Lenzing is committed to the principles of sustainable management and very high environmental standards.

Lenzing's core business fibers and plastics are complemented by our activities in business field engineering.

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