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Lenzing to acquire BASF's rayon business.

In a recently announced acquisition, Lenzing AG, Lenzing, Austria, has signed a letter of intent to purchase the rayon fiber business of BASF, Williamsburg, VA. The acquisition comes as a result of BASF's plan to concentrate on its other fiber businesses and Lenzing's strategy to further globalize its core rayon business. Lenzing currently has rayon production facilities in Europe and the Far East.

During a recent press conference, Wayne Godwin, BASF Fibers president, said that although the company will no longer supply rayon for apparel, home furnishings and nonwovens, "we will continue to service these segments with other products, including bicomponent fibers." The purchase is expected to be completed by the end of June.
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Title Annotation:International News
Publication:Nonwovens Industry
Article Type:Brief Article
Date:May 1, 1992
Words:114
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