Lenzing AG Expands Stake in TreeToTextile to Lead Fiber Innovation

Lenzing AG has acquired a controlling majority in TreeToTextile AB, reinforcing its commitment to sustainable fiber innovation. This strategic move enhances Lenzing's leadership in the production of wood-based specialty fibers and strengthens its innovation pipeline. The transaction involves the issuance of new shares, positioning Lenzing as the primary player in this venture.

The acquisition marks a significant step in the industrialization of next-gen cellulosic fibers, promising improved sustainability and cost efficiency. Lenzing plans to boost production at its demonstration plant in Sweden and prepare for a large-scale industrial facility. The initiative is backed by minority shareholders including H&M Group and Inter IKEA Group, who offer market insights and consumer perspectives.

Dr. Roxana Barbieru, CEO of TreeToTextile, expressed confidence in Lenzing's increased ownership, emphasizing the importance of innovation at an industrial scale. This development is expected to accelerate technology scaling and offer operational synergies.