EANS-Adhoc: Lenzing AG / Binding Offers for the Sale of the Business Unit Plastics

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Strategic management decisions/Company Information 21.03.2013

The Lenzing Group is evaluating the possibility of potentially disposing of its Business Unit Plastics within the context of the company's intensified focus on its core business of producing man-made cellulose fibers.

The related sales process has now entered a phase of more detailed discussions with the receipt of several binding offers on the part of potential buyers on March 21, 2013. Lenzing will subject the proposals to a comprehensive assessment and subsequently decide upon the future ownership structure of the Business Unit Plastics if the quality of the offers is appropriate.

The Business Unit Plastics (Lenzing Plastics GmbH) employs a work force of more than 300 people at the Lenzing site, manufacturing plastics niche products such as films for the construction industry, tapes for the cable industry, films and laminates for technical applications and packaging as well as products based on the high-performance plastic material polytetrafluoroethylene (PTFE). In the 2012 financial year the business unit generated sales of EUR 109.4 mn and an EBITDA of EUR 11.2 mn.

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(END) Dow Jones Newswires

   March 21, 2013 15:08 ET (19:08 GMT)- - 03 08 PM EDT 03-21-13