OTE0001 5 WB 0575 CNE0001 WI Di, 12.Sep 2017
euroadhoc / euro adhoc / Strategic Management Decisions / Company Information

EANS-News: Lenzing AG / Lenzing Opens New Application Innovation Center in Hong Kong

Corporate news transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.

Strategic Management Decisions/Company Information

Hongkong/Lenzing - Highlights

  • New state-of-the-art fiber and fabric testing center
  • Development of new applications on site
  • Expansion of cooperation with partners along the value chain in Asia

The Lenzing Group is setting a further milestone in intensifying its cooperation with the partners along the value chain by its opening of a new Application Innovation Center (AIC) in Hong Kong. New applications for Lenzing fibers will be developed and tested at the new facility, among them applications for recent innovations like the RefibraTM branded lyocell fiber and the EcoVeroTM branded viscose fiber.

"With this new center Lenzing is further implementing its corporate strategy sCore TEN. One of the cornerstones of this strategy is enhancing the level of customer intimacy. The proximity to important Asian customers and partners along the value chain creates a new dimension in our service offering", says Robert van de Kerkhof, Chief Commercial Officer of the Lenzing Group. "We can react more quickly to current trends and handle a broad spectrum of aspects on location relating to the application with our full range of fibers as well as unique fiber blends in collaboration with our supply chain partners. Herewith we can develop highly aesthetic, emotional and functional products around the world", van de Kerkhof adds.

"This new Application Innovation Center is an integral part of our global technology network, from our R&D department and fiber processing laboratory in Lenzing to our fiber testing facility in Indonesia", states Heiko Arnold, Chief Technology Officer of the Lenzing Group. Accordingly, Lenzing is underlining its global innovation leadership. "Lenzing's research and development expenditures amounting to EUR 46.4 mn in the last financial year are among the highest within the peer-group internationally. The bottom line is that these investments benefit our customers, because they can optimally differentiate themselves from the competition by using innovative Lenzing products", Arnold adds.

"In this cross-learning center for Lenzing and our partners new applications will be tested for commercializing fiber innovations. This will contribute to Lenzing's ability to even more quickly and effectively transfer its innovative strength to our customers", Eric Chan, General Manager of Lenzing Fibers Hongkong says. "Moreover, the new AIC also enables prototype production of textile fabrics made of Lenzing fibers, from the concept, dyeing and finishing to the precise measurement of all product data", he adds.

The Lenzing Application Innovation Center starts its operation as of now and is open for visitors from the whole industry.

Photo download: https://mediadb.lenzing.com/pindownload/login.do?pin=5NQAU [https:// mediadb.lenzing.com/pindownload/login.do?pin=5NQAU]

PIN: 5NQAU

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 (0) 7672 701-2713
w.kaserer@lenzing.com

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

OTE0001 2017-09-12/04:55