AUSTRIA: Lenzing to be sold to India's Aditya Birla?
It has been said that Lenzing, which has a global presence in the cellulose fibre market, could fetch up to US$2bn - leading to the biggest-ever stake purchase by an Indian textile company.
Lenzing's head of corporate communications, Angelika Guldt, told just-style the company could not comment on the reports.
The company reported a 14.9% increase in turnover for the first half of this year but said "unfavourable currency discrepancies" hampered profit. Its sales totalled $1.2bn last year.
Lenzing, which is opening a Mumbai office this year, is said to be optimistic about the potential for its business in India, and is thought to be mulling production operations to rival that of Indian fibre giant Grasim.
Now that India is no longer constrained by quotas, its intrinsic competitiveness is being revealed. Even though China has made bigger gains in market share last year, India’s impressive performance me...
Viscose fibre manufacturer Lenzing Group said that net income rose to EUR23m (US$31m) for the first quarter of 2007, from EUR14.1m in the comparable period last year....
Viscose fibre manufacturer Lenzing AG today (23 April) said its annual net profit rose 47.5% as the group continued its expansion drive, and the board raised its dividend by 25%....
Austrian manufacturer The Lenzing Group has secured an agreement to build a new fibre production plant in India through the country's Modi Group....
Austria's Lenzing Group, the world's biggest producer of cellulose fibres, has opened its second viscose fibre plant in Asia....
Viscose fibre maker Lenzing AG today (12 March) posted a 48% hike in full-year profit, helped by rising prices and the expansion of its core cellulose fibres business....
The owner of Austrian manmade cellulose fibre maker Lenzing AG has categorically denied rumours that the company is to be sold to the Indian Birla Group....
A new range of fabrics combining the moisture absorbing and fast drying properties of Lenzing Tencel and Advansa Coolmax fibres has been developed for the active apparel market....
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