At the listed fiber manufacturer Lenzing, three new supervisory board members were elected at an extraordinary general meeting on Thursday. New arrivals include Carlos Anibal de Almeida Junior, Marcelo Feriozzi Bacci and Markus Fürst. The company announced that Feriozzi Bacci is also the new deputy to Supervisory Board Chairman Cord Prinzhorn.
The reason for the new appointments is the entry of the Brazilian pulp company Suzano. This person is entitled to seats on the supervisory board. As reported, Suzano acquired a 15 percent stake in Lenzing from the domestic B&C Group in June. The B&C Group’s shareholding was reduced to 37.25 percent – with B&C and Suzano forming a long-term shareholder syndicate that together has 52.25 percent of the voting rights. B&C exercises control in this syndicate with its Lenzing share of 37.25 percent. The purchase price per share was 39.70 euros, the total volume of the deal was 230 million euros.
Lenzing has been struggling with economic difficulties for a long time. In the past financial year, the value of five production plants was written down by 465 million euros and a net loss of 593 million euros was reported for 2023 on sales of 2.5 billion euros. The group has prescribed a savings program.
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