Lenzing reinforces focus on specialities amid industry over-capacity

04 October 2013 15:56  [Source: ICIS news]

LONDON (ICIS)--Lenzing is reinforcing its focus on specialties and will “upgrade” production and sales activities as it reacts to over-capacity in the viscose fibre industry, the Austria-based fibre producer said on Friday.

“Excess production capacity has been built up due to the weaker growth in China and the ongoing investment activity in the fibre industry,” the company said.

Lenzing has decided to even more rigorously implement its specialty strategy in response to the changed business environment,” it said.

Lenzing also said that a yet-to-be appointed chief sales and marketing officer would join its management board. The board currently has three members: CEO Peter Untersperger, COO Friedrich Weninger, and CFO Thomas Winkler.

Winkler, however, will step down by the end of the year “because of differing opinions related to the future course and organisation of the Lenzing Group,” the company said earlier on Friday.

Meanwhile, the company’s new €150m ($205m) TENCEL-brand specialty fibre plant at its production site in Lenzing, Austria, is expected to start up in 2014, increasing its production capacity for TENCEL by about 40%, to 220,000 tonnes/year, it said.

($1 = €0.73)

By: Stefan Baumgarten
+1 713 525 2653

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