Home / Knowledge / News / Textiles / Lenzing suspends 2020 guidance due to COVID-19 crisis

Lenzing suspends 2020 guidance due to COVID-19 crisis

25
Mar '20
Pic: Lenzing
Pic: Lenzing
As a result of global COVID-19 crisis, Lenzing expects a negative impact on its textile sales volume. The potential impact cannot yet be estimated as it strongly depends on duration of crisis as well as its further effects on global economy & textile markets. Thus, Lenzing has suspended its result forecast for 2020 as it expects it to be below level of 2019.

In order to mitigate a potentially stronger than expected decline in earnings, Lenzing has already started to implement cost saving measures across its sites globally.

The Lenzing Group stands for ecologically responsible production of specialty fibres 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 fibres are also highly suitable for hygiene products and agricultural applications.

The business model of the Lenzing Group goes far beyond that of a traditional fibre 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.

Fibre2Fashion News Desk (PC)


Must ReadView All

Pic: Shutterstock

Textiles | On 6th Mar 2021

USTR releases 2021 President’s Trade Agenda, 2020 Annual Report

The Office of the United States Trade Representative recently...

Pic: Jilsander

Fashion | On 6th Mar 2021

Italy's OTB acquires Jil Sander brand from Onward Holdings

Japan's Onward Holdings has announced selling its loss-making Jil...

Pic: Shutterstock

Apparel/Garments | On 6th Mar 2021

Garment industry coalition calls for democracy restoration in Myanmar

A coalition of nine EU and US initiatives linked to the garment,...

Interviews View All

Yashiki Gumber, Sahiba Fabrics

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Textile Industry, Head honchos

Textile Industry
Head honchos

We are staring at livelihood crisis for weavers

Riddhika Shah, SS Homme

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Gagan Gulati,

Gagan Gulati

PG Silk Mills Private Limited had a humble start with a hand-dyeing unit....

Francesco Gozio,

Francesco Gozio

Italian company Marzoli is a leading manufacturer of the complete line of...

Zennure Danisman,

Zennure Danisman

Since its inception in 1953, Orta Anadolu has been weaving a denim...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Steve Cole, Xerium Technologies

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


March 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search