Lenzing AG

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Lenzing AG
Type Aktiengesellschaft
Traded as WBAGLNZ
Industry Chemicals
Founded 1938 (Zellwolle Lenzing AG)
Headquarters Lenzing, Austria
Key people Peter Untersperger (CEO), Michael Junghans (Chairman of the supervisory board)
Products Textile fibers, nonwoven fabrics, pulp, thermoplastics, PTFE, acrylic fibers
Revenue 1.766 billion (2010)[1]
Operating income €231.9 million (2010)[1]
Profit €159.1 million (2010)[1]
Total assets €1.963 billion (end 2010)[1]
Total equity €732.0 million (end 2010)[1]
Employees 6,530 (end 2010)[1]
Website www.lenzing.com

Lenzing AG is a company based in Lenzing, Austria whose main business is textile and nonwovens cellulose fibers (such as modal and lyocell) and also makes some polymer plastics.[2] Lenzing Group is an international group of companies with its headquarters in Austria, and production sites in all major markets.

The company initially focused solely on fiber production, but it needed plastic wrappings for its fiber bales, so Lenzing Plastics was founded to produce them. The plastics division is still active, making 11.7% of total sales in 2009.[2]

Lenzing AG in Lenzing

The company's history goes back to 1892 when Emil Hamburger, an industrialist, operated a paper mill in Lenzing, Austria. In 1938 Zellwolle Lenzing AG was founded, starting pulp and viscose fiber production and in 1962 the company's name was changed to Chemiefaser Lenzing AG. The old calcium bisulphite method was used for fiber production until 1963, when the new more eco-friendly magnesium bisulphite method was introduced. In 1975 the company established a department responsible for the environment and introduced a more "green" bleaching process for pulp in 1977. In 1984 the company name changed to Lenzing AG and its shares were listed on the Vienna Stock Exchange in 1986.[3]

Lenzing Group has international branch offices in the United States and Asia (China, India, Indonesia). Its production facilities are located mainly within the European Union, with the fibers being produced in Austria, United Kingdom, the US, China, and Indonesia, while its plastics factories are located in Austria, Germany, the Czech Republic, and the US. The pulp is produced in Czechia and the engineering research is done in Lenzing, Austria which is also the largest integrated pulp and viscose fiber production site worldwide.[4]

Total 2009 sales were EUR 1.25 billion, with a workforce of 6,021. The main fiber markets of Lenzing are Asia (52%) and Europe (39%). The majority owner of Lenzing, with 90.15% of voting rights, is B & C Industrieholding GmbH along with its subsidiaries.[2] As of 2007, the corporate group has an annual production of over 500,000 tons of fibers, over 27,000 tons of plastics, and over 80,000 tons of paper.[5] The paper division was sold out in 2008.[6]

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