EQS-News: Lenzing AG: Lenzing successfully opens world's largest lyocell plant in Thailand

EQS-News: Lenzing AG / Key word(s): Market launch/Sustainability
   Lenzing AG: Lenzing successfully opens world's largest lyocell plant in
   Thailand

   03.03.2022 / 09:30
   The issuer is solely responsible for the content of this announcement.

   --------------------------------------------------------------------------

     * Project delivered on schedule and at budget after two and a half years
       of construction despite challenges arising from a global pandemic
     * New state-of-the-art lyocell plant with a capacity of 100,000 tons
       will help serve the growing demand for sustainably produced fibers
     * Important milestone towards a carbon-free future has been set

   Prachinburi (Thailand) - The Lenzing Group, the world's leading supplier
   of wood-based specialty fibers, is pleased to announce the successful
   completion of its key lyocell expansion project in Thailand. The new
   plant, the largest of its kind in the world with a nameplate capacity of
   100,000 tons per year, started production on schedule and will help to
   even better meet the increasing customer demand for TENCEL(TM) branded
   lyocell fibers. For Lenzing, the project also represents an important step
   towards strengthening its leadership position in the specialty fiber
   market and into a carbon-free future.

   The construction of the plant located at Industrial Park 304 in
   Prachinburi, around 150 kilometers northeast of Bangkok, started in the
   second half of 2019 and proceeded largely according to plan, despite the
   challenges arising from the COVID-19 pandemic. The recruiting and
   onboarding of new employees has been successful. Investments (CAPEX)
   amounted to approx. EUR 400 mn.

   "We are very proud of this achievement. Our sincere thanks go to the
   entire Lenzing team and especially to our staff in Thailand but also to
   many external stakeholders, who joined forces in times of a global
   pandemic to make this key project reality. To deliver such a huge project
   in time and at budget is an outstanding achievement given the challenges
   of the global pandemic", said Cord Prinzhorn, CEO of Lenzing Group.

   Robert van de Kerkhof, Member of the Managing Board, agreed with him and
   added: "The demand for our wood-based, biodegradable specialty fibers
   under the TENCEL(TM), LENZING(TM) ECOVERO(TM) and VEOCEL(TM) brands is
   growing very well. In Asia in particular, we see huge growth potential for
   our brands based on sustainable innovation. With the production start of
   the lyocell plant in Thailand, Lenzing reached an important milestone in
   its growth journey, supporting our ambitious goal to make the textile and
   nonwoven industries more sustainable."

   Worldwide expansion of lyocell production

   Pollution of the environment - especially marine pollution - is one of the
   biggest problems of our time. The fashion industry has an extremely
   negative impact on the environment with its fast fashion business model
   and the growing consumption of fossil resources. The lyocell production
   process is the most modern method for producing fibers from wood. It has
   been successfully applied on an industrial scale for about 30 years and is
   particularly environmentally responsible. The underlying idea of the
   lyocell process is to dissolve and process the pulp in a closed loop
   without any chemical derivatisation.

   Lenzing will continue to expand its production capacity for lyocell fibers
   in line with its sCore TEN strategy, which aims to generate 75 percent of
   its fiber revenue from eco-responsible specialty fibers such as
   TENCEL(TM),
   LENZING(TM) ECOVERO(TM) and VEOCEL(TM) fibers by 2024. The Thailand site
   offers space for several production lines. The investment in the first
   phase already includes general infrastructure that would benefit future
   expansion. However, Lenzing will continue to look for opportunities to
   expand lyocell production in other parts of the world too.

   Target of a zero-carbon future

   "Investments in Thailand and other Lenzing sites around the world support
   us not only along our transformation towards becoming a supplier of
   eco-friendly specialty fibers but also in implementing our ambitious
   climate targets, thus further increasing our company value", said Cord
   Prinzhorn.

   In 2019, Lenzing made a strategic commitment to reducing its greenhouse
   gas emissions per ton of product by 50 percent by 2030. The target is to
   be climate-neutral by 2050. Due to the established infrastructure, the
   site in Thailand can be supplied with sustainable biogenic energy and
   contribute significantly to climate protection.

   Together with the key project in Brazil and the substantial investments at
   the existing sites in Asia, Lenzing is currently implementing the largest
   investment program in its corporate history (with more than approx. EUR
   1.5 bn). Lenzing will continue to drive the execution of its strategic
   projects, which are to make a significant contribution to earnings from
   2022.

   You can watch the recording of the opening ceremony via the following
   link:
   [1]https://youtu.be/38_VPu-y0vE

   Photo download:
   [2]https://mediadb.lenzing.com/pinaccess/showpin.do?pinCode=LD1pibmYZVj2
   PIN: LD1pibmYZVj2

   Your contact for                                 Investor Relations:
   Public Relations:
                                                      Sébastien Knus
   Dominic Köfner                             Vice President Capital Markets
   Vice President Corporate Communications &    Lenzing Aktiengesellschaft
   Public Affairs                               Werkstraße 2, 4860 Lenzing,
   Lenzing Aktiengesellschaft                             Austria
   Werkstraße 2, 4860 Lenzing, Austria
                                                  Phone +43 7672 701 3599
   Phone +43 7672 701 2743                     E-mail [5]s.knus@lenzing.com
   E-mail [3]media@lenzing.com                    Web [6]www.lenzing.com
   Web [4]www.lenzing.com

    

   About the Lenzing Group

   The Lenzing Group stands for ecologically responsible production of
   specialty fibers made from the renewable raw material wood. As an
   innovation leader, Lenzing is a partner of global textile and nonwoven
   manufacturers and drives many new technological developments.

   The Lenzing Group's high-quality fibers form the basis for a variety of
   textile applications ranging from elegant ladies clothing to versatile
   denims and high-performance sports clothing. Due to their consistent high
   quality, their biodegradability and compostability Lenzing fibers are also
   highly suitable for hygiene products and agricultural applications.

   The business model of the Lenzing Group goes far beyond that of a
   traditional fiber producer. Together with its customers and partners,
   Lenzing develops innovative products along the value chain, creating added
   value for consumers. The Lenzing Group strives for the efficient
   utilization and processing of all raw materials and offers solutions to
   help redirect the textile sector towards a closed-loop economy. In order
   to reduce the speed of global warming and to accomplish the targets of the
   Paris Climate Agreement and the "Green Deal" of the EU Commission, Lenzing
   has a clear vision: namely to make a zero-carbon future come true.

   Key Facts & Figures Lenzing Group 2020
   Revenue: EUR 1.63 bn
   Nameplate capacity: 1,045,000 tons
   Employees: 7,358

   TENCEL(TM), VEOCEL(TM), LENZING(TM), REFIBRA(TM), ECOVERO(TM), LENZING
   MODAL(TM), LENZING VISCOSE(TM), MICROMODAL(TM) and PROMODAL(TM) are
   trademarks of Lenzing AG.

   --------------------------------------------------------------------------

   03.03.2022 This Corporate News was distributed by EQS Group AG.
   www.eqs.com

   --------------------------------------------------------------------------

   Language:    English
   Company:     Lenzing AG
                4860 Lenzing
                Austria
   Phone:       +43 7672-701-0
   Fax:         +43 7672-96301
   E-mail:      office@lenzing.com
   Internet:    www.lenzing.com
   ISIN:        AT0000644505
   Indices:     ATX
   Listed:      Vienna Stock Exchange (Official Market)
   EQS News ID: 1293207


    
   End of News EQS News Service


   1293207  03.03.2022 


References

   Visible links
   1. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=98100705a32727135f44a3c40257e269&application_id=1293207&site_id=apa_ots_austria&application_name=news
   2. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=e8f346b09598bde91b4f387a85ab04a7&application_id=1293207&site_id=apa_ots_austria&application_name=news
   3. mailto:media@lenzing.com
   4. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=5803f22d982f72dcc3d9f0027e178e6b&application_id=1293207&site_id=apa_ots_austria&application_name=news
   5. mailto:s.knus@lenzing.com
   6. https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=5803f22d982f72dcc3d9f0027e178e6b&application_id=1293207&site_id=apa_ots_austria&application_name=news

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT |

print