Lenzing launches €300m raise to support nonwovens growth

LENZING – Lenzing has launched a fully underwritten capital increase targeting gross proceeds of approximately €300 million, with the Austrian cellulosic fibre specialist  linking the financing to its strategy of expanding nonwovens and repositioning its textiles business.

Lenzing unveiled its new “Grow Nonwovens, Reset Textiles” strategy in July, a major transformation plan that is centred around expanding its nonwovens capacity, narrowing the textiles business towards premium segments, and strengthening the pulp and biorefinery side of the group.