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  Corporate news transmitted by euro adhoc with the aim of a Europe-wide 
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Strategic Management Decisions 
 
Highlights - 
 
* CO2 emissions will be reduced by 320,000 tons per year 
* First supplier of wood-based cellulosic fibers in China to completely 
  eliminate coal 
* Share in eco-responsible specialty fibers will be significantly increased 
* Lenzing is strategically well on track with these investments 
 
Lenzing - The Lenzing Group, the leading global supplier of wood-based specialty 
fibers, will invest more than EUR 200 mn in its production sites in Purwakarta 
(Indonesia) and Nanjing (China) to convert existing standard viscose capacity 
into environmentally responsible specialty fibers. 
 
In Nanjing (China) Lenzing will establish the first wood-based fiber complex in 
China that is independent from coal as an energy source. By using natural gas 
based cogeneration, Lenzing will reduce CO2 emissions at the site by more than 
200,000 tons. At the same time a line of standard viscose will be converted to a 
35.000 tons TENCEL(TM) branded modal fibers line making Lenzing (Nanjing) Fibers 
Co., Ltd a 100 percent wood-based specialty fiber site by the end of 2022. 
 
In Purwakarta (Indonesia), Lenzing will reduce its CO2 emissions by increasingly 
using biogenic fuels. Additional investments to reduce emissions to air and 
water will make this facility fully compliant with the EU Ecolabel by the end of 
2022. That will allow converting standard viscose capacity into LENZING(TM) 
ECOVERO(TM) branded fibers for textile applications as well as LENZING(TM) 
Viscose Eco fibers for personal care and hygiene applications. As a result, the 
site in Indonesia will also become a pure specialty viscose supplier as of 2023. 
 
Both investments are fully in line with Lenzing's target to reduce its 
greenhouse gas emissions per ton of product by 50 percent by 2030. By avoiding 
or reducing the use of fossil fuels at the two sites, the Lenzing Group will be 
able to reduce CO2 emissions by more than 320,000 tons in total, or 18 percent, 
compared to 2017. In addition, this investment allows Lenzing also to reduce its 
total sulfur emissions by more than 50 percent, compared to 2019. 
 
"With our ambitious climate targets towards a zero-carbon future, we are 
pioneers in the entire manufacturing industry and especially in the fiber 
sector. Our investments in China and Indonesia underpin that investments in 
improving our eco-footprint are at the same time value enhancing for 
shareholders. These investments are a substantial step towards our strategic 
targets for 2024", says Stefan Doboczky, CEO of the Lenzing Group. 
 
Together with its major lyocell fiber project in Thailand, Lenzing will also 
boost its share in specialty fibers as a percentage of fiber revenues to well 
above the targeted 75 percent already by 2023, which in turn is an important 
step towards achieving the company's EBITDA target of EUR 800 mn by 2024. "We 
are and will remain a reliable partner for both the textiles and the nonwovens 
value chain on the long term", says Stephan Sielaff, Member of the Managing 
Board of Lenzing. "The strategic focus on specialty fibers is fully in line with 
the growing market demand for sustainable viscose." 
 
Photo download [https://mediadb.lenzing.com/pinaccess/ 
showpin.do?pinCode=IzOT4dExai68] 
PIN: IzOT4dExai68 
 
 
 
Further inquiry note: 
Daniel Winkelmeier 
Communications Manager 
Lenzing AG 
Phone: +43 676 7579843 
E-mail: d.winkelmeier@lenzing.com 
 
end of announcement                         euro adhoc 
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(END) Dow Jones Newswires

May 04, 2021 02:00 ET (06:00 GMT)