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Fibres/​Yarns/​Fabrics

Lenzing sells Dolan and European Carbon Fibre to focus on man-made cellulose fibres

The sale comprises part of Lenzing’s strategy to focus on its core business of man-made cellulose fibres.

15th April 2015

Innovation in Textiles
 |  Lenzing

Industrial, Construction

The Lenzing Group has announced the sale of its fully owned German subsidiary Dolan and its 91.1% stake in European Carbon Fiber to WHEB Partners’ Growth Fund 2 of England and Jan Verdenhalven.

“The sale comprises part of Lenzing’s strategy to focus on its core business of man-made cellulose fibres. With WHEB and Jan Verdenhalven, Lenzing succeeded in finding financially strong, industry oriented new owners in which both companies will be able to develop more effectively in the future than up until now,” explained Thomas Riegler, Lenzing’s Chief Financial Officer.

“Moreover, it is important for European Carbon Fiber that WHEB and Jan Verdenhalven already have longstanding industrial experience in the carbon fibre business. The company now has interesting growth perspectives once again through a potential cooperation with other companies in the strategic investment portfolio of WHEB.”

Dolan

Dolan manufactures high quality specialty fibres on an acrylic basis, which are used for textiles, convertible car tops, as sunshades, for 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. Due to their high chemical resistance, acrylic fibres are suitable as reinforcement in concrete, mortar, bitumen and fibre cement products.

Dolan is one of the major suppliers of convertible car tops in Europe. The company employs a workforce of about 100 employees, generating revenue of EUR 57.5 million in 2014.

Lenzing Group

The Lenzing Group is a market leader with headquarters in Austria, production sites in all major markets, as well as a worldwide network of sales and marketing offices. Lenzing supplies the global textile and nonwovens industry with high-quality man-made cellulose fibres. The portfolio ranges from dissolving pulp, standard and specialty cellulose fibres to engineering services.

With more than 75 years of experience in fibre production, the Lenzing Group combines manufacturing of all three man-made cellulose fibre generations on a large industrial scale under one roof – from the classic viscose to modal and lyocell (Tencel) fibres.

European Carbon Fiber is a joint venture with Kelheim Fibres, which manufactures precursors for the carbon fibre industry. The company achieved annual revenue of EUR 10.4 million in 2014.

www.lenzing.com

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