Lenzing and TreeToTextile join forces for next-generation cellulose fibers

EQS-News: Lenzing AG / Key word(s): Alliance/Sustainability Lenzing and TreeToTextile join forces for next-generation cellulose fibers 07.10.2024 / 09:13 CET/CEST The issuer is solely responsible for the content of this announcement. Lenzing and TreeToTextile join forces for next-generation cellulose fibers

 

• Lenzing acquires minority share in Swedish cellulosic fiber company TreeToTextile AB
• Joining forces with H&M Group, Inter IKEA Group, Stora Enso, and LSCS Invest
• Partnership for next-generation cellulose fibers

 

Lenzing – The Lenzing Group, a leading supplier of regenerated cellulose fibers for the textile and nonwovens industries, announces the acquisition of a minority share in TreeToTextile AB, joining the existing shareholders H&M Group, Inter IKEA Group, Stora Enso, and LSCS Invest. The group of owners is united by the strong belief that sustainably produced fibers will have the power to change the textile industry to the better.

 

Lenzing Group has produced sustainable regenerated cellulosic fibers and dissolving wood pulp for over 85 years. With our fibers marketed under the TENCEL, LENZING ECOVERO and VEOCEL brands, we are at the forefront of making the fiber industry more environmentally friendly. “We are excited about TreeToTextile’s award-winning technology and production process, which further reduces environmental impact, promotes the transition to a more sustainable future and is fully in line with our corporate strategy,” says Rohit Aggarwal, CEO of the Lenzing Group. “This partnership is a significant investment and a sign of Lenzing's relentless commitment to innovation by combining the power of its own innovation engine with a strong strategic cooperation approach. We look forward to contributing our expertise to TreeToTextile’s mission.”