Austria-based cellulose fibers group Lenzing looking to acquire third cellulose plant, expects improved business conditions in 2013, although this year 'will not be that bad at all,' says company's chief

Sandy Yang

LOS ANGELES , August 7, 2012 (Industry Intelligence Inc.) –

Lenzing AG, a cellulose fibers group based in Austria, is considering buying a third cellulose plant, the company’s CEO Peter Untersperger told the newspaper WirtschaftsBlatt in an interview, reported Reuters on Aug. 7.

Any acquisition will become more interesting the higher cellulose prices rise, he said.

The company is doing well, with its plants operating full out, including in China; and 2013 is expected to be better, said Untersperger, noting in the interview that last year’s profits were “really extraordinary,” Reuters reported.

This year “will not be that bad at all, even if not another record year,” he said.

Lenzing’s liquidity stands at €750 million (US$930 million). Although the company has not yet made plans for a bond issue, it has noted that borrowing conditions improved in the past three to four months, Untersperger said, reported Reuters.

The company’s products range from dissolving pulp, standard and specialty cellulose fibers to high-quality plastic polymer products and engineering services, according to its website.

The primary source of this article is Reuters, London, England, on Aug. 7, 2012.

 

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