Lenzing Group weathers the crisis year 2020 and remains strategically well on track
- Successful implementation of measures to fight the COVID-19 pandemic with a focus on the safety and health of employees, customers and partners and securing sustainable business development
- Implementation of strategic investment projects progressing on schedule – financing contracts for the construction of the pulp plant in Brazil concluded according to plan
- Lenzing expands its lead in sustainability and circular economy – first TENCEL™ branded carbon-zero fibers launched
- Successful issuance of a EUR 500 mn hybrid bond further strengthens balance sheet structure
- Lenzing expects recovery of the fiber market to continue in 2021 and an operating result on pre-crisis level
Lenzing – In 2020, the Lenzing Group successfully responded to the extremely difficult market environment due to the COVID-19 crisis by implementing a broad package of measures and remains fully on track in terms of its strategy. The measures focused on protecting Lenzing’s employees and partners and on safeguarding its operations. Lenzing flexibly adjusted production volumes and was able to offer its customers the usual delivery service at any time. In addition, Lenzing also intensified measures for structural earnings improvement to mitigate the effect of the pressure on fiber prices and demand for fibers, and reduced its operating costs.
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