The Lenzing Group has announced the sale of its fully-owned German subsidiary Dolan and its 91 percent stake in European Carbon Fibre to London-based WHEB Partners investment group and investment adviser Jan Verdenhalven.
“The sale comprises part of Lenzing’s strategy to focus on its core business of man-made cellulose fibers,” Thomas Riegler, Lenzing’s chief financial officer with WHEB and Verdenhalven, told Innovation in Textiles. “The company now has interesting growth perspectives once again through a potential cooperation with other companies in the strategic investment portfolio of WHEB.”
Dolan, based in Kelheim, Germany, manufactures specialty acrylic fibers used for textiles, convertible car tops, sun shades, garden furniture and protective clothing. In the technical fiber segment, the business focuses on solutions for hot gas or liquid filtration and reinforcement in composites for the construction industry.
The Lenzing, Austria-based Lenzing Group produces man-made cellulose fibers. Its portfolio ranges from dissolving pulp, standard and specialty cellulose fibers to engineering services.