21st Austria weekly - Lenzing, Wolford, Vienna Insurance Group (15/01/2019)

Lenzing: The Lenzing Group underpins its commitment to customer intimacy in providing the new “Lenzing Center of Excellence” (LCOE) at its Indonesian premises in Purwakarta. With the LCOE the Lenzing Group is setting a further milestone in intensifying its cooperation with the partners along the value chain. “The LCOE is already running full speed and draws a lot of interest from customers and partners. It is an important step to implementing our corporate strategy sCore TEN”, Robert van de Kerkhof, Chief Commercial Officer of the Lenzing Group says. “The proximity to important Asian customers and partners creates a new dimension in our service offering. We can react more quickly to current trends and handle a broad spectrum of aspects on location relating to the application with our full range of fibers as well as unique fiber blends in collaboration with our supply chain partners”, van de Kerkhof adds. “After the opening of the Application and Innovation Center in Hong Kong the Indonesian LCOE is another defined step to further strengthen Lenzing’s partnership with its customer. LCOE captures activities and innovation capabilities in the area of fiber to yarn. The Hong Kong Center focuses on yarn to fashion. With this, we have brought full fiber to fashion innovation capabilities to Asia”, Vineet Singhal, Senior Vice President AMEA says.
Lenzing: weekly performance: 0.24%

Wolford:  After being presented with the results of the Christmas business and in light of the ongoing market weakness in January 2019, the Management Board of skin-wear producer Wolford does not expect the company to achieve positive operating earnings (EBIT) in the current 2018/19 financial year (May 1, 2018 - April 30, 2019) in spite of the positive cost effects generated by the restructuring program to date. Accordingly, the Management Board revises its previous forecast and now anticipates a loss in the 2018/19 financial year.
Wolford: weekly performance: -4.35%

Vienna Insurance Group: Austrian based insurance group Vienna Insurance Group (VIG) has merged Czech bancassurance business Pojišťovna České sporitelny, a.s. with the Group’s local company, Kooperativa pojišťovna, a.s. The merger means that an important part of the Group-wide project designed to strengthen the bancassurance business – an initiative launched in 2018 – has now been concluded according to plan. Boosting sales through banks is one of the objectives of VIG’s Agenda 2020 strategic work programme. In collaboration with its partner Erste Group, VIG generated premium income of around Euro 900 mn through this particular channel in the first three quarters of 2018. VIG’s Group companies currently cooperate with Erste Group und Sparkassen in ten countries: Austria, Bosnia and Herzegovina, Croatia, the Czech Republic, Hungary, Macedonia, Montenegro, Romania, Serbia and Slovakia. "We will maintain our focus on successful collaboration, and besides life insurance we will concentrate on growing the non-life and health insurance businesses and integrating them more closely into our online sales processes, as well as developing new, clearly understandable products,” explained Vienna Insurance Group CEO Elisabeth Stadler.
VIG: weekly performance: 3.62%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (15/01/2019)

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