The Lenzing Group has sold its fully owned German subsidiary Dolan GmbH and its 91.1% stake in European Carbon Fiber GmbH to investment group WHEB Partners, led by private equity special advisor Dr. Jan Verdenhalven.
‘The sale comprises part of Lenzing’s strategy to focus on its core business of man-made cellulose fibers,’ said Lenzing’s CEO Thomas Riegler. ‘With WHEB and Jan Verdenhalven, Lenzing succeeded in finding financially strong, industry-oriented new owners in which both companies will be able to develop more effectively in the future than up until now. [...] WHEB and Jan Verdenhalven already have longstanding industrial experience in the carbon fiber business.’
Dolan makes specialty fibers on an acrylic basis which are used for textiles, convertible car tops, as sunshades, for garden furniture and protective clothing, while European Carbon Fiber GmbH, a joint venture with Kelheim Fibres GmbH, makes precursors for the carbon fiber industry.
This story is reprinted from material from Lenzing, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
