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Lenzing acquires share in Indonesian firm.

The Lenzing Group has acquired a 40% share in the Indonesian holding group PGL (Pura Golden Lion). PGL has been handling the local fiber sales of PT. South Pacific Viscose since its incorporation and holds a 12% share in the fiber manufacturer. Lenzing purchased the 40% share from APAC Centertex, a listed Indonesian spinning group, for an undisclosed sale price. The purchase increases Lenzing's indirect share in PT. South PacificViscose from 86% to 91%. This is expected to strengthen Lenzing's position in the Indonesian and all other Asian fiber markets.

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Title Annotation:Top Of The News: All the News That's Fit to Print
Publication:Nonwovens Industry
Article Type:Brief article
Geographic Code:9INDO
Date:Sep 1, 2009
Words:90
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