EANS-News: Lenzing AG / Lenzing traces its fibers with blockchain technology

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– Lenzing enters the age of digital traceability
– Transparency ensured from wood to the finished garment
– Partnership with Hong Kong based TextileGenesis(TM)

Research & Development

Lenzing - The Lenzing Group, world market leader in specialty fibers made fromthe renewable material wood, is strengthening its leading position insustainability in the textile industry. Lenzing will use blockchain technologyto support its TENCEL(TM) branded fiber business, ensuring complete transparencyand traceability for brands and consumers of its fibers in the finished garment.After evaluating various initiatives Lenzing decided to join the platform of theHong Kong based technology company TextileGenesis TM to accomplish thisambition.

Consumers increasingly want to understand the ingredients and suppliers of theproducts they buy, requesting a new level of transparency and traceability. Thesupply chain transparency from wood to garment and home textiles will enable allcustomers and partners to identify TENCEL(TM) fibers and the respective woodsource in each production and distribution step. Thanks to a QR code on thefinal garment, consumers will be able to detect the origin of the clothes theyintend to buy.

"With LENZING(TM) ECOVERO(TM) branded fibers Lenzing was the frontrunner inphysical traceability and is now entering the age of digital traceability. Thismilestone in transparency is a further strong commitment to sustainability",says Stefan Doboczky, Chief Executive Officer of the Lenzing Group. "Togetherwith TextileGenesis( TM), we aim to create an unmatched level of transparency forbrands and consumers. With this step Lenzing will further help to green up thetextile industry."

Lenzing will carry out several pilot tests over the next few months involvingpartners along the entire value chain. Lenzing expects the platform to be fullyoperational as of 2020.

Photo download:
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end of announcement euro adhoc

issuer: Lenzing AG

A-A-4860 Lenzing
phone: +43 7672-701-0
FAX: +43 7672-96301
mail: office@lenzing.com
WWW: http://www.lenzing.com
ISIN: AT0000644505
indexes: ATX, WBI
stockmarkets: Wien
language: English

Digital press kit: http://www.ots.at/pressemappe/1597/aom

Rückfragen & Kontakt:

Lenzing AG
Mag. Waltraud Kaserer
Vice President Corporate Communications & Investor Relations
Tel.: +43 7672 701-2713
mailto: w.kaserer@lenzing.com

ORIGINAL APA-OTS TEXT - THE INFORMATION CONTAINED IN THIS PRESS RELEASE IS SUBJECT TO THE EXCLUSIVE RESPONSIBILITY OF THE ISSUER | CNE0002