Lenzing AG

Investor Presentation • Apr 15, 2002

News Details

Ad-hoc | 15 April 2002 19:42

Lenzing AG english

Change in the Management of Lenzing AG Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Change in the Management of Lenzing AG The Group’s result from operations for 2001 expected to be EUR 65 millions The Board of Management of Lenzing AG is undergoing a change: Jochen Werz is leaving the company. He was Spokesman of the Board of Management until today and, together with Franz Raninger, also responsible for the fibers sector. The operative responsibilities of the Board of Management will henceforth be distributed as follows: Franz Raninger – fibers, Christian Reisinger – engineering and systems-construction, and Peter Untersperger – paper and plastics. In its meeting today, the Supervisory Board of Lenzing AG decided to part company with Jochen Werz. It was established in the course of a review that Jochen Werz had not carried out decisions taken by the Supervisory Board in the course of selling the majority share in Lenzing Fibers Corporation, the US participation, and that he had provided incomplete information to the Supervisory Board with regard to this transaction. The business activities of the Lenzing Group developed positively during the past year. The Group’s result from operations for 2001, according to US-GAAP, are expected to be EUR 65 millions (after EUR 70 millions for the year 2000). The result for the year after minority interests, which still needs auditing, is expected to be on the same level as for the year before. The audit has not been completed; yet, there should not be any major changes in this positive result according to present knowledge. Business activities have once more been developing positively during the first months of the current business year. Please contact Ms. Angelika Guldt, phone: +43/7672/701-2713, if you have any queries. end of ad-hoc-announcement (c)DGAP 15.04.2002 ——————————————————————————– WKN: 852927; ISIN: AT0000644505; Index: Listed: Amtlicher Handel in Wien; Amtlicher Handel in Frankfurt und München; Freiverkehr in Berlin 151942 Apr 02