Lenzing Pushes Heiligenkreuz Wind-Down to Early 2027 as Roughly 30 Suitors Circle the Site

Lenzing has bought itself more time at its Heiligenkreuz plant, where production will now run until the end of the first quarter of 2027 rather than ceasing on the earlier timetable originally envisaged. The company attributed the delay, reported by APA, to the transfer of manufacturing to other sites and the need to keep customer deliveries uninterrupted. Roughly 285 people work at the facility, and Lenzing is in talks with about 30 interested parties over a possible takeover of the site.

The stock edged 0.8% higher to EUR 10.48 on the day the news surfaced, a modest move that sits alongside a far larger shift in the company's capital base.

Share Count Nearly Doubles After Rights Issue

The Vienna Stock Exchange widened Lenzing's listing by 34,756,362 shares on Friday, lifting the total to 73,374,542. The step follows the completion of a capital increase just over a week earlier, which generated gross proceeds of around EUR 301.2 million at an issue price of EUR 8.65 per share.

Existing holders took up 99% of the offered stock through their subscription rights; the consortium banks sold the remainder on the market. Lenzing intends to use the proceeds to advance its "Grow Nonwovens, Reset Textiles" strategy and to shore up its balance sheet.

Syndicate Anchors the Raise

Among the subscribers was the syndicate of B&C-Gruppe and Suzano, which Lenzing had allocated 18,159,291 new shares in the preliminary subscription result published on 20 October.

Filings tied to the transaction also revealed buying among people closely linked to the company. Oberbank AG acquired 1,344,177 Lenzing shares on Friday by exercising subscription rights at EUR 8.65 apiece; the institute is deemed a person closely associated with supervisory board member Martin Seiter. B&C KB Holding likewise reported purchases through the exercise of rights, in each case covering transactions by individuals close to a Lenzing supervisory board member.

Management board member Christian Skilich bought 1,710 shares at EUR 8.65, matching the capital increase's issue price, according to a mandatory disclosure on Friday.

Goldman Sachs Lifts Stake Past 4%

International investors adjusted their positions as well. The Goldman Sachs Group raised its voting rights in Lenzing to 4.01% on 20 October.

With the capital measures behind it, the company now turns to its next scheduled disclosure: third-quarter 2026 results on 5 November, within a window of 15:00 to 16:00 CET according to its financial calendar.