20.12.2019,
3472 Zeichen
Disclosed inside information pursuant to article 17 Market Abuse Regulation
(MAR) transmitted by euro adhoc with the aim of a Europe-wide distribution.
The issuer is responsible for the content of this announcement.
Strategic Management Decisions
20.12.2019
-
Investment of approx. USD 1.3 bn in 500,000 t dissolving wood pulp plant\nKey milestone to structurally strengthen cost leadership position\nSignificant step towards carbon neutrality\nLenzing/Sao Paulo - The Lenzing Group, world market leader for wood-based
cellulosic fibers, and Duratex, the largest producer of industrialized wood
panels in the southern hemisphere, announce that they will build a 500,000 t
dissolving wood pulp plant in the State of Minas Gerais, near Sao Paulo
(Brazil). The start-up is planned for the first half of 2022. In the joint
venture, Lenzing holds a 51 percent, Duratex a 49 percent stake. The expected
industrial CAPEX will be approx. USD 1.3 bn (based on current exchange rates and
customary tax refunds). The project is financed through long-term debt. The
corresponding financing contracts are expected to be concluded at the end of the
first quarter of 2020.
Zwtl.: Key milestone to structurally strengthen cost leadership position
The new dissolving wood pulp plant strengthens the Lenzing Group's backward
integration and cost position as well as its specialty fiber growth in line with
its sCore TEN corporate strategy. The single-line dissolving wood pulp plant
with an annual nameplate capacity of 500,000 tons will be the largest and most
competitive production facility of its kind. Dissolving wood pulp is a key raw
material required for manufacturing Lenzing's biobased fibers. The joint venture
will supply the entire volume of dissolving wood pulp to the Lenzing Group.
"Wood-based cellulosic fibers offer an important contribution to enhance
sustainability in the textile industry. In line with its corporate strategy
sCore TEN, Lenzing is committed to drive organic growth in this market. With
this investment, we will become more competitive, act more independently and
subsequently strengthen our market position. The trust and support of the main
shareholders of Lenzing and Duratex were of great importance for this key
project", states
Stefan Doboczky, CEO of the Lenzing Group.
Zwtl.: Strong focus on sustainability
In planning the new production facility, particular importance was given to
sustainability aspects. The joint venture secured FSC®-certified plantations (1)
covering an area of over 44,000 hectares to provide the necessary biomass. These
plantations operate completely in accordance with the guidelines and high
standards of the Lenzing Group for sourcing wood and pulp. The plant will
operate among the highest productive and energy-efficient in the world and will
feed the 40 percent of excess bioelectricity generated on site as "green energy"
into the public grid. With this project, Lenzing sets a milestone in its
strategy to carbon neutrality.
Photo download [https://mediadb.lenzing.com/pinaccess/
showpin.do?pinCode=r81K4rRXgO8D]
PIN: r81K4rRXgO8D
(1) FSC license code: FSC-C006042
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: ATX, WBI
stockmarkets: Wien
language: English
Digital press kit: http://www.ots.at/pressemappe/1597/aom
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Lenzing
Akt. Indikation: 34.30 / 34.80
Uhrzeit: 13:03:50
Veränderung zu letztem SK: -0.58%
Letzter SK: 34.75 ( -1.56%)
Bildnachweis
1.
15.3.: Stefan Doboczky läutet die Opening Bell für Freitag. Der Lenzing-CEO nahm den Number One Award 2018 entgegen: Bestes Nachhaltigkeitsranking im ATXPrime (auf Basis der VÖNIX-Kritierien) https://boerse-social.com/numberone/2018 https://www.lenzing.com http://www.voenix.at/ http://weber.co.at https://www.facebook.com/groups/GeldanlageNetwork
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