for the year 2010
The extraordinary shareholders' meeting of Lenzing AG, held on 10 December 2010, approved a resolution to re-divide the company's nominal capital by means of a seven-for-one share split.
The Lenzing Group, a world market leader in man-made cellulose fibers, sets the course for the future dynamic expansion of its fiber production capacity.
Extraordinary shareholders' meeting approves resolutions on share split and on authorized and conditional capital
The extraordinary shareholders' meeting of Lenzing AG today unanimously resolved upon a seven-for-one share split.
Medica 2010: Lenzing's first-time presentation of its innovative fiber portfolio for medical products
For the first time Lenzing presented its fiber types TENCEL®, Lenzing Viscose® and Lenzing Profilen® to an expert medical audience
The Lenzing Group, world leader in man-made cellulose fibers, will adapt its fiber prices with the beginning of 2011. Prices will be raised by at least 10%, depending on the product. Price increases will take place in Textile Fibers as well as in Nonwovens. The decision was necessitated by the recent strong rise in raw material prices, in particular for dissolving pulp and chemicals required for the production of viscose, modal and TENCEL® fibers.
Resolution proposals on share split, authorized and conditional capital.
Lenzing AG invites its shareholders to an extraordinary shareholders' meeting to be held on 10 December 2010 in Lenzing. The agenda includes resolution proposals on a seven-for-one share split, framework authorizations for the creation of authorized capital concerning new shares to be issued against cash or contribution in kind, and on conditional capital measures concerning convertible bonds to be issued, both with the possibility to exclude shareholders' subscription rights.
New record result expected for 2010.
The Lenzing Group extended its strong upward development of the first half year into the third quarter of 2010. EBIT of EUR 60.8 mill. (third quarter 2009: EUR 37.3 mill.) generated the best quarterly result in the company's history. Nine-months sales in 2010 grew by 45.2 % from EUR 885.0 mill. (2009 reference period) to EUR 1.285.5 mill. EBIT reached a new nine-month record high of EUR 168.8 mill. and more than tripled EBIT of the 2009 reference period (EUR 54.3 mill.).
Lenzing Group – business development significantly better than recently assumed.
The Lenzing Group is expecting a significantly better development of sales and results for the third quarter and therefore for first nine months of 2010 than recently assumed.
Lenzing AG, the world market leader in man-made cellulose fibers, successfully placed a seven-year corporate bond with a coupon rate of 3.875 %. The bond sale was oversubscribed fourfold. Approximately 75 % of the total volume went to private Austrian investors due to strong demand from this group. Peter Untersperger, chairman of the management board, comments: “We have achieved an important target of our bond issue in an optimum manner, namely the diversification of our creditor base. We see the considerable oversubscription and the great demand from institutional and in particular private investors as an indication that Lenzing is well positioned as a global and yet essentially Austrian company”.
A new era has begun. Sustainability has become the byword of a new business generation. Lenzing therefore adopts a deeper approach to meet new challenges: Green 2.0. Web 2.0 is broadening internet communication, Lenzing's Green 2.0 deepens a wide spectrum of relationships based on communication. In an era of simultaneous and non-hierarchical information flow, communication must be open and honest.
Lenzing AG will issue a corporate bond with a tenor of seven years at a volume of up to EUR 120 mill. The bond's projected coupon rate is 3.75 to 4.0 percent. The net proceeds are to be used for optimizing the company's current financing portfolio, strengthening its financial power, refinancing existing financial liabilities, as well as for financing new projects, such as developing and extending established business activities.
Lenzing AG intends to issue a corporate bond with a volume of up to EUR 120 mill. and a projected term to maturity of seven years. The offer is intended to attract private as well as institutional investors. The appointed joint lead managers of the bond issue are UniCredit Bank Austria and Raiffeisen Zentralbank. The book runner will be UniCredit Bank Austria.
Very good development in core business Fibers
As in the first quarter of 2010, the Lenzing Group made optimum use of the good global market environment and achieved an excellent result in the second quarter.
Lenzing has been supporting a development project in South Africa since the beginning of 2010. The partner is the association for development cooperation HUMANA People to People Austria which uses the profits made from collecting and reselling used clothes to finance numerous development projects.
The Vienna Stock Exchange Award 2010 recognizes performance in the four categories ATX, Small & Mid Cap, Corporate Governance and Sustainability.
Lenzing equips the athletes of the Austrian Climbing Association with competition sportswear made of the TENCEL® fiber. The association is the world's most successful organization in the disciplines it presents, with top-ranking climbers among its members. Lenzing supports and sponsors more than 400 promising and talented athletes.
SPV secures its position as Asia's leading viscose fiber producer
Fiber industry upswing continues – best quarter in company history
The anti-trust authorities have approved the acquisition of Czech pulp producer Biocel Paskov A.S.
Michael Junghans newly elected to the supervisory board
Chairman Peter Untersperger: Strategic vertical backwards integration
The Lenzing Group, world market leader in cellulose fibers, will invest considerable capital in the capacity expansion and modification of its sites in Lenzing (Austria) and Nanjing (China). The production capacity of fiber site Nanjing will be more than doubled to 140,000 tons per year with an investment of EUR 55 mill. at a scheduled construction period of 18 months two years. The Lenzing site will switch production from standard viscose fibers to modal fibers within the next fifteen months at an investment of EUR 23 mill.
Preliminary figures 2009 confirmed
New management board member appointed
With the beginning of 2010 Lenzing AG started to support a development project in South Africa – the partner is the Austrian association for cooperation in development, HUMANA People to People Österreich.
Cautious optimism for 2010
Sustainable production and management is an important topic in the sports goods industry, too. For the second time an expert jury conferred the Eco Responsibility Award of the international sports goods fair, ispo. It focused not only on ecological product aspects but also on the sustainability of manufacturers' overall concepts.
The Indonesian subsidiary of Lenzing AG, PT. South Pacific Viscose (SPV) has started up first successful trials of its new fourth production line. Regular operation is expected to commence in the course of the second quarter. The new line will produce viscose fibers for textile applications and for the nonwovens industry. Production is intended for the domestic Indonesian market, as well as for export.