Capital injection for Lenzing’s “grow nonwovens, reset textiles” strategy
The board of Austrian manmade cellulosic fibre specialist Lenzing voted an injection of fresh capital at an extraordinary general meeting last week.
The increase in capital, of €300 million, are emitted as no-par value bearer shares to preserve shareholders’ rights, the company said.
“The broad support from our shareholders, in particular our major shareholders, the B&C Group and Suzano, as well as Oberbank AG, demonstrates their confidence in our strategic realignment. The capital increase strengthens our financial structure and is a key building block for the successful implementation of our ‘Grow Nonwovens, Reset Textiles’ strategy. This will enable us to lay the foundation for sustainably increasing Lenzing AG’s profitability and creating long-term value,” commented Georg Kasperkovitz, CEO of Lenzing AG.
With the resignation of Dr. Franz Gasselsberger, Martin Seiter, and a member of the Oberbank board, has been elected to Lenzing’s board.
