Lenzing to Close UK and Austrian Plants as Part of Business Restructuring
Austrian textile manufacturer Lenzing announced plans to shut down its fiber production facilities in Heiligenkreuz, Austria (by end-2026) and Grimsby, UK (by end-2027). The closures are part of the company's new strategy titled 'Grow Nonwovens, Reset Textiles,' aimed at refocusing on nonwoven applications while reshaping its textiles business. Lenzing will optimize production to strengthen core sites like its flagship plant in Austria and ensure supply stability for customers. The transformation includes evaluating strategic options such as divestments or value-preserving solutions for the affected plants, with a structured wind-down if no viable alternatives are found. CEO Georg Kasperkovitz emphasized that this strategy is intended to improve competitiveness, profitability, and return on invested capital in an evolving market environment.
Topics: corporate restructuring manufacturing nonwovens textiles strategy