Fibre producer Lenzing, a specialist in wood-based cellulosic fibres, has announced that its revenue grew 24% year on year during the third quarter (Q3), reaching €1.97 billion or approximately $1.92 billion.

The company attributed this growth due to higher fibre prices on the back of “extreme” global energy and raw material market pressures over the reporting period. Its managing board has already begun to implement cost reduction measures in response, the Austria-based developer revealed.

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