Business Desk :
Lenzing CEO Rohit Aggarwal said, “We continue to ensure strict cost management and focus on strengthening our global sales. We are adapting our corporate organization to the changed market conditions and thus strengthening the positioning of the Lenzing Group as a leading integrated fibre group.”
Fiber prices stayed low during the reporting period, despite an increase in sales volumes. The cost of electricity and raw materials remained high, and logistical expenses increased dramatically as well.
In the first three quarters of 2024, revenue increased by 5% year over year to €2 billion.
Since the end of 2022, the Lenzing Group has been implementing measures to reduce costs.
Lenzing also disclosed changes to its managing board’s membership. The CEO position was taken up by Rohit Aggarwal on September 1, 2024.
Suzano, a Brazilian pulp manufacturer, purchased a 15% stake in Lenzing from B&C Group. Suzano is the biggest pulp producer in the world. This move can lead to the creation of innovative products that meet specific market needs.
Lenzing’s fibers are made from natural wood. They are botanic products derived from renewable sources and processed with unique resource-conserving technologies.