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Lenzing buys remaining 25 percent of Biocel Paskov
October 3, 2012 / 11:40 AM / 5 years ago

Lenzing buys remaining 25 percent of Biocel Paskov

VIENNA (Reuters) - Austrian cellulose fiber maker Lenzing (LENV.VI) has bought the remaining 25 percent of Czech pulp producer Biocel Paskov it did not already own from Austria’s Heinzel Group, it said on Wednesday without disclosing the price.

Lenzing bought 75 percent of Biocel Paskov from Heinzel in 2010. The Czech company employs almost 400 people.

Lenzing said it had invested about 100 million euros ($129 million) to restructure Biocel Paskov, and said it would be able to produce paper pulp as well as dissolving pulp used in the manufacturing of cellulose fibers from 2013.

(Reporting by Georgina Prodhan; Editing by Elaine Hardcastle)

georgina.prodhan@thomsonreuters.com; +431 5311 2256; Reuters Messaging: georgina.prodhan.thomsonreuters.com@reuters.net

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