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Lenzing investing €100mn to hike specialty fibre capacity
03 Aug '16
1 min read
Austrian producer of specialty fibres Lenzing is investing €100 million over the next 20 months to expand capacities for its high quality botanic fibres.
Lenzing had earlier set the target of increasing the share of specialty fibres as a proportion of its total revenue to 50 per cent by 2020, which currently accounts for 41.7 per cent of revenue.
The major part of investments will be carried out in 2016 and 2017 and the company will fully utilise its in house engineering competence, supported by local construction companies and suppliers.
Lenzing AG decided to start its investment program for speciality fibers at its existing sites in Austria and the UK as it allows fast capacity ramp up.
Lenzing CEO Stefan Doboczky said, “Given the strong market demand, this expansion will help our customers in their growth plans as well as expanding our global market leadership position for specialty fibres.” (AR)
Lenzing had earlier set the target of increasing the share of specialty fibres as a proportion of its total revenue to 50 per cent by 2020, which currently accounts for 41.7 per cent of revenue.
The major part of investments will be carried out in 2016 and 2017 and the company will fully utilise its in house engineering competence, supported by local construction companies and suppliers.
Lenzing AG decided to start its investment program for speciality fibers at its existing sites in Austria and the UK as it allows fast capacity ramp up.
Lenzing CEO Stefan Doboczky said, “Given the strong market demand, this expansion will help our customers in their growth plans as well as expanding our global market leadership position for specialty fibres.” (AR)
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