Lenzing lays the foundation stone for world’s largest lyocell fibers plant

19.11.2019, 2447 Zeichen
Corporate news transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.
New production plant is designed to satisfy high demand in Asia for lyocell fibers
Company Information
Prachinburi, Thailand - Within the context of the foundation stone laying ceremony held on Friday, November 15, 2019, the Lenzing Group officially launched construction work in Thailand right on schedule to build the world's largest lyocell production plant. Following the approval granted to the project in June 2019 and the successful signing of the Engineering, Procurement, Construction Management (EPCM) contract with Wood PLC in August 2019, construction work was formally commenced on the new manufacturing facility located at Industrial Park 304 in Tatoom, Srimahapoj in Prachinburi province. The ceremony was attended by Prachinburi Governor Mr. Piboon Hattakitkosol, Ms. Eva Hager, Austrian Ambassador to Thailand, Mr. Duangjai Asawachintachit, Secretary General of the Thailand Board of Investment and more than 100 guests from society and politics.
Zwtl.: Promising project for Lenzing
The new plant with a capacity of 100,000 tons per year will be the largest lyocell facility in the world. It will help Lenzing to meet the strong demand for lyocell fibers and simultaneously strengthen the company's market leadership position for specialty fibers. The investment volume for a first production line amounts to EUR 400 million. Up to three additional production lines can be built and operated on the site. The project is of great importance to Lenzing as it is the first step in bringing lyocell production to Asia, home to the largest markets, the most important customers and the most extensive growth potential in specialty fiber production. The new manufacturing facility is scheduled to be completed in the third quarter of 2021, with production of the first fibers already expected for the fourth quarter of the same year.
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end of announcement euro adhoc
issuer: Lenzing AG
A-4860 Lenzing phone: +43 7672-701-0 FAX: +43 7672-96301 mail: office@lenzing.com WWW: http://www.lenzing.com ISIN: AT0000644505 indexes: WBI, ATX stockmarkets: Wien language: English
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