All Stories
Subscribe to Lenzing AG

Lenzing AG

EANS-News: Lenzing AG
Lenzing received several prizes at the Corona awards

  Corporate news transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is responsible for the content of this announcement.

Lenzing was awarded for the introduction of the blockchain technology for fiber
identification as well as its achievements as a leading company and significant
economic engine in the region

Company Information

Lenzing - On November 4, 2019, Lenzing AG won the "Digital Corona" in Gold. The
coveted business prize was awarded for the first time in this category. It is
awarded to companies that have dynamically advanced the digitization of business
processes, products, services and business models in recent years. At the
premiere, Lenzing was delighted to receive the first prize for the introduction
of the blockchain technology for fiber identification along the textile value

"Consumers increasingly want to understand the ingredients and suppliers of the
products they buy, requesting a new level of transparency and traceability. With
the introduction of blockchain technology, Lenzing is pursuing the ambitious
goal of creating full transparency across the value chain, driving change in an
industry where less than five percent of the top 250 apparel brands can track
their garments back to the fiber origin", Stefan Doboczky, CEO of the Lenzing
Group, says. Lenzing enables its customers and partners to identify TENCEL(TM)
branded fibers across each production and distribution step from fiber-to-
retail. The technology also allows consumers to verify the garment composition
and the underlying textile supply chain at the point of sale, simply by scanning
the barcode with a mobile device. As a result, Lenzing also directly supports
the business with its very sustainably produced TENCEL(TM) lyocell fibers.

With LENZING(TM) ECOVERO(TM) branded fibers Lenzing was the frontrunner in
physical traceability and is now entering the age of digital traceability. After
joining the platform of the technology company TextileGenesis(TM) earlier this
year, Lenzing presented the first pilot at this year's Fashion Summit in Hong
Kong. This pioneering pilot project was conducted in close cooperation with
TextileGenesis(TM), WWF and Hong Kong based brand Chicks. This was a significant
milestone in the introduction of blockchain technology. Over the coming months,
Lenzing is carrying out further pilot tests involving partners along the entire
value chain and expects the platform to be fully operational as of 2020.

Zwtl.: Strong signal for industrial location Upper Austria

In addition, Lenzing received Bronze for the "Standort-Corona" for its
achievements as a leading Upper Austrian company and major economic engine in
the region. With its continuously high investment activity at the Lenzing site,
the company is constantly contributing to the strengthening of the economic
area. In 2019, Lenzing successfully completed its expansion and modernization
drive at the pulp plant at the Lenzing site, increasing production capacity to
320,000 tons per year. As part of its ambitious climate goals, Lenzing also
decided to invest EUR 40 mn to expand the production of the raw material
sulfuric acid at the Lenzing site. This comprises an important milestone on the
path towards climate neutrality. In the future, a new air purification and
sulfur recovery plant will not only optimize the company's self-sufficiency for
this raw material and enhance process reliability but improve environmental
protection within the context of a clear forward-looking strategy.

With approx. 3,100 employees (as at 30.06.2019) at the Lenzing site, including
more than 130 apprentices, the Lenzing Group is one of the leading companies in
the industrial location of Upper Austria and, as such, also an important
employer and driver of growth and innovation. The research and development
activities are bundled in the central area "Global Research & Development" at
the Lenzing site; at the end of June 2019, approx. 200 employees were involved
in the field of new and further development of technologies, processes, products
and applications in the field of wood-based cellulosic fibers.

Photo download: [https://]
PIN: uEoWxi944gXs

Further inquiry note:
Filip Miermans
Vice President Corporate Communications & Investor Relations
Lenzing AG
Telefon: +43 7672 701 2743

end of announcement                         euro adhoc

issuer:       Lenzing AG
              A-4860 Lenzing
phone:        +43 7672-701-0
FAX:          +43 7672-96301
ISIN:         AT0000644505
indexes:      WBI, ATX
stockmarkets: Wien
language:     English

Original content of: Lenzing AG, transmitted by news aktuell

More stories: Lenzing AG
More stories: Lenzing AG