In Austria, The Lenzing Group has cut its stake in EQUI-Fibres Beteiligungsgesellschaf mbH, Kelheim, a producer of viscose fibers, from 45% to 20%. Lenzing says the move is in line with its strategy to focus on core businesses.
The stake was purchased by an unnamed company represented by Lenzing managing directors Peter Unterspeerger and Gerald Schmidsberger. The transaction is expected to improve Lenzing’s financial results by €10-15 million. Payment is expected to take place in 2017.
Kelheim Fibres, which produces viscose fibers at Kelheim, Germany, is wholly owned by EQUI-Fibres. EQUI-Fibres reported € 162 million in sales in 2015.