Lenzing launches €300m raise to support restructuring

Lenzing – Cellulosic fibre specialist Lenzing has launched a fully underwritten capital increase targeting gross proceeds of approximately €300 million, as part of its plan to expand nonwovens and refocus its textile fibre business on differentiated, higher-value markets.

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.