Lenzing Aktiengesellschaft (LNZNF,LNZ.VI), a producer of botanical cellulosic fibers, on Wednesday, announced that it will invest approximately 15 million euros to expand its production capacity for premium viscose fibers at its site in Lenzing, Austria.
The investment forms part of the company's broader 100 million euros program aimed at strengthening the long-term competitiveness of its Austrian production sites, which was recently announced.
The expansion focuses on increasing capacity for the trilobal cross-section fiber VEOCEL Viscostar, which delivers superior absorbency performance for feminine care applications.
The company said the move will help meet rising demand from key customers while maintaining high-quality standards.
Lenzing Aktiengesellschaft is currently trading 5.52% higher at EUR 22 on the Vienna Stock Exchange.
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