Press Information
Lenzing Group enlarges share in Indonesian subsidiary PT. South Pacific Viscose
Tuesday, 28. July 2009
The Lenzing Group acquired a share of 40% in the Indonesian holding PGL (Pura Golden Lion) today.
PGL has been operating the local fiber sales of PT. South Pacific Viscose since the foundation of the latter. Moreover, PGL holds a share of approximately 12% in PT. South Pacific Viscose. The 40% share in PGL was bought from APAC Centertex, a listed Indonesian spinning group. The parties agreed not to disclose the sales price. The enlargement of its indirect share in the subsidiary PT. South Pacific Viscose from 86% to 91% will strengthen Lenzing's position in the Indonesian and all other Asian fiber markets.
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