As part of its efforts to further concentrate on its core business of manufacturing manmade cellulose fibres, Lenzing AG agreed to sell 85% of its shareholding in Lenzing Plastics GmbH to a bidding consortium led by Invest AG, the investment company of Raiffeisen Banking Group Upper Austria. The consortium also includes OÖ Beteiligungsgesellschaft m.b.H. & Co OG, Tyrol Equity AG and members of the management team.
Lenzing Plastics (LP) is one of the world’s leading producers and converters of specialty films and laminates out of Thermoplastics (such as roof underlinings, cable films or carry handles and tear tapes for consumer packing) as well as fibres and yarns for medical, technical and textile applications out of Polytetrafluoroethylene (PTFE). In the 2012 financial year Lenzing Plastics generated total sales of EUR 109.4 mn and an EBITDA of EUR 11.2 mn. The transaction is subject to approval by anti-trust authorities.