Lenzing and Acordis - US Joint Venture
08-Mar-2001
As separately announced today, CVC, a major capital equity company in Europe and the majority shareholder in Acordis has entered into an agreement to acquire a majority shareholding in Lenzing AG; and, following this, CVC has announced the formation of a new cellulose-based fibers company - "NewCo" - which will combine Lenzing's activities with relevant fibers operation of Acordis. These developments are subject to regulatory approval.
Against this background the management of Lenzing and Acordis have now agreed to resume talks on the formation of a US viscose staple joint venture.
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