As part of its efforts to further concentrate on its core business of manufacturing man-made cellulose fibres, Lenzing AG agreed to divest its acrylic fibre operations, represented by German DOLAN GmbH and ECF GmbH to UK-based private equity fund WHEB Partners and private investor Mr Jan Verdenhalven.
The sale to WHEB and Mr Verdenhalven sees both companies in capable hands to successfully develop the business and support DOLAN and ECF on their respective growth paths.
DOLAN manufactures high-quality spun-dyed acrylic fibres for demanding applications in soft car tops, outdoor upholstery and awnings, as well as technical acrylic fibres used in industrial filtration, highway construction and high-friction applications such as automotive brake-pads.
A joint-venture with Kelheim Fibres, ECF is a producer of carbon fibre precursor, an acrylic fibre used as raw material in the manufacturing of high-reliability carbon fibres. ECF’s particular precursor is qualified for use in automotive applications as well as interior fitting of aeroplanes and technical applications such as civil engineering.
The combined operations of DOLAN and ECF generated approx. € 70m in sales.