AUSTRIA: LENZING EXPECTS RECORD RESULTS

Article Abstract:

The Austrian fibre producer Lenzing AG expects a record profit of well over EUR 350mn in year 2000. Board spokesman Jochen Werz attributes the favourable development to the reduction of costs and the positive development of the market. In the first half of year 2000 Lenzing made an operating profit of EUR 19.6mn (EUR 3.4mn a year earlier) and a profit for the year of EUR 14.5mn (EUR 2.4mn) on a turnover of EUR 311.8mn (EUR 258.8mn).

Publisher: Unabhaengige Tageszeitungs fuer Oesterreich
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
Sales, profits & dividends

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AUSTRIA: LENZING SALE POSTPONED

Article Abstract:

Bank Austria has postponed the decision on the sale of its 80% stake in the fibre producer Lenzing until the end of March 2001. Bidders for the bank's stake are a group of investors around the industrialists Hannes Androsch and CVC Capital Partners of the UK. The former is believed to have bid EUR 80 and the latter EUR 90 per share. On 21 December 2000 Lenzing share price was at EUR 79.

Publisher: Unabhaengige Tageszeitungs fuer Oesterreich
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
Asset sales & divestitures, CVC Capital Partners

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AUSTRIA/HONG KONG: LENZING BETTING ON ASIA

Article Abstract:

The Austrian fibre producer Lenzing AG has set up a representative office in Hong Kong in order to expand on the Asian market but also to be at a location that determines to a large extent the clothing fabric markets of Europe and North America. At the beginning of 2001 Lenzing is raising fibre prices by 5%.

Publisher: Unabhaengige Tageszeitungs fuer Oesterreich
Publication Name: Presse
Subject: Business, international
ISSN:
Year: 2000
Foreign operations, Hong Kong

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Subjects list: Austria, Cellulosic fibers, Lenzing AG
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