Lenzing Q3 net income rises to €24.6m due to fibre demand

09 November 2009 09:30  [Source: ICIS news]

LONDON (ICIS news)--Lenzing’s third-quarter net income increased 54% to €24.6m ($36.7m) due to improving demand for cellulose fibres, the Austrian cellulose fibres and specialty plastic polymers producer said on Monday.

Consolidated sales for the third quarter remained almost unchanged year on year at €322.4m after business development had stabilised in the previous quarter, Lenzing said.

“In the third quarter Lenzing made optimum use of the continuing stabilisation of the global fibre market. We are running production at all sites at almost full capacity and the market has accepted first price increases,” said Peter Untersperger, chairman of the management board.

Looking ahead towards the remainder of the year, Lenzing said that it would have a “cautiously positive view of its business development”.

The company cited positive developments in Asia, Turkey and South America, while anti-dumping procedures in Brazil and India were expected to significantly slow down sales of products containing Lenzing's fibres.

($1 = €0.67)

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