EANS-News: Lenzing lays the foundation stone for world’s largest lyocell fibers plant CNE

11/19/2019, 8:30 AM (Source: euro adhoc)
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New production plant is designed to satisfy high demand in Asia for lyocell

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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Further inquiry note:
Filip Miermans
Vice President Corporate Communications & Investor Relations
Lenzing AG
Tel: +43 7672 701 2743
E-Mail: f.miermans@lenzing.com

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

EAX0002    2019-11-19/08:30

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