Lenzing AG / Lenzing launches TENCEL? Luxe. The issuer is responsible for the content of this announcement.
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Strategic Management Decisions/Company Information
Paris/Lenzing - Highlights
* The new lyocell filament heralds a new era of sustainable cellulose fabrics for the premium luxury market * Basic engineering for bigger scale industrial line started
At an exclusive event in Paris, the Lenzing Group launched a new product: TENCEL TM Luxe. The TENCEL TM Luxe branded lyocell filament is another key milestone in the implementation of the company's sCore TEN strategy and the first time that Lenzing enters the filament market. It will further support Lenzing's shift to become a true speciality player in the botanic materials market derived from sustainable wood sources.
TENCEL TM Luxe: The new player of eco-couture fabrics
TENCEL TM Luxe branded filaments are the new player for sustainable high-end cellulose textiles by offering superior aesthetics, performance and comfort level that allow them to be the perfect partner with other noble fibers such as silk, cashmere or wool. The smooth surface of the TENCEL TM branded Luxe filament gives fabrics a silky smooth feel and liquid-like drape for the most sensual silhouettes. Moreover, TENCEL TM Luxe branded filaments are naturally breathable due to their wood-based origin and offer outstanding color fastness, enabling designers to express bold color palettes where creativity knows no boundaries.
TENCEL TM Luxe: a new era in sustainable manufacturing
TENCEL TM Luxe eco-botanic lyocell filaments are made from wood pulp, which is sourced from sustainable wood in line with Lenzing's strict Wood and Pulp Policy. They are produced using Lenzing's pioneering closed-loop lyocell production process, which has received the "European Award for the Environment" from the European Union. This process ensures minimal environmental impact due to low process water and energy use and raw materials consumption.
"We are committed to setting industry standards in order to enhance the protection of our environment while making filaments for fabrics that are designed to appeal to the most sophisticated consumers. The launch of TENCEL TM Luxe is a further sign of our ongoing commitment towards innovation and sustainability", explains Stefan Doboczky, Chief Executive Officer of the Lenzing Group. "The expansion plan represents the next consistent step in the implementation of our sCore TEN strategy and is a commitment of Lenzing as a hub for research & development and engineering."
TENCEL TM Luxe is another proof of Lenzing's innovation strength. It will open new markets for the company and for its customers and partners and will allow the company to participate in the premium segment of the fabrics market. With the help of TENCEL TM Luxe Lenzing will support the luxury apparel industry to redraw the borders between responsibility and high-end luxury fashion, and is part of Lenzing's ongoing commitment towards sustainability-driven innovation.
TENCEL TM Luxe will be produced at the Lenzing site in Austria. Lenzing plans to expand the capacity at this site over the coming years and has started the basic engineering for a large scale commercial line for filaments. To optimize a new plant design and start up, this Lenzing site was chosen as the future manufacturing hub for TENCEL TM Luxe.
"The decision for the Lenzing site in Austria as a hub for TENCEL TM Luxe helps to build up a strong knowledge base for this new technology at the headquarters of the company", says Heiko Arnold, Chief Technology Officer of the Lenzing Group. "Here we can fully leverage the proximity between operations, research & development, customer service and the engineering organization to accelerate the development of this technology for the production of TENCEL TM Luxe on a bigger industrial scale."
The decision about a new plant for the production of TENCEL TM Luxe on a bigger industrial scale will be made in the third quarter of 2018.
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Further inquiry note: Lenzing AG Mag. Waltraud Kaserer Vice President Corporate Communications & Investor Relations Tel.: +43 (0) 7672 701-2713 mailto:email@example.com
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issuer: Lenzing AG
A-A-4860 Lenzing phone: +43 7672-701-0 FAX: +43 7672-96301 mail: firstname.lastname@example.org WWW: http://www.lenzing.com ISIN: AT0000644505 indexes: ATX, WBI stockmarkets: Wien language: English