SGL Group completes acquisition of 86% stake in Fisipe
Dated- 13 Apr , 2012 - Portugal
SGL Group said it completed the acquisition of an 86% stake in the listed Portuguese company Fisipe- Fibras Sintéticas de Portugal S.A.- from the previous principal shareholder, egofor, as planned. The final purchase price is expected to be in the range of 25 million euros.
At the same time, the request for registration of a mandatory public offer has been submitted to the Portuguese securities commission for the remaining shares in Fisipe.
With this deal, SGL Group expands its production network for carbon fiber raw materials by adding a production site for precursor. Certain textile fiber production lines at the site will be converted into precursor lines and gradually expanded. At the same time, the facility will continue to manufacture and sell acrylic fibers for special textile and technical applications.