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Lenzing Chair Denies Sale Rumors

February 9, 2007

The chairman of the Lenzing AG supervisory board, Karl Schmutzer, has denied recurrent rumors stating that Lenzing will be sold to a strategic investor, in particular the Indian Birla Group.
 "As a member of the management of B & C Holding GmbH, which holds an 88% stake in Lenzing AG, making it the biggest individual shareholder, I am able to confirm that we did not and do not hold sales talks of any kind concerning our share in Lenzing, neither with any strategic investor nor with any equity fund,” he said.
Mr. Schmutzer speculated that the recurring takeover rumors were being deliberately spread by Lenzing AG competitors at Lenzing’s customer base in order to cover up  their own potential shortcomings in technology and product quality. He has advised the management board to consider taking legal action.

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