Binder Groesswang has advised Lenzing AG and Palmers Textil AG on the establishment of a joint venture to produce protective masks in Austria.
The production and sale of protective masks for the domestic and European market will start in May 2020. Over the next few weeks, capacities will be expanded to more than 25 million masks per month and the business will also be expanded geographically.
Palmers will contribute to the production and distribution of textile products and Lenzing its know-how in procurement, raw materials, and knowledge in the field of engineering.
The Binder Groesswang team consisted of Partner Florian Khol and Attorney at Law Hemma Parsche.