Lenzing AG joins existing shareholders H&M, Inter Ikea, Stora Enso and LSCS Invest, the listed company announced on Monday. Lenzing did not disclose how much of TreeToTextile would be taken over.
The Swedish company, founded in 2014, has been operating pilot plants for more sustainable production of cellulose fibers since 2015. A demo system has been available since 2021, and the company will soon scale production to bring the fibers onto the market.
“This partnership is a significant investment,” says Lenzing CEO Rohit Aggarwal. TreeToTextile’s production process reduces environmental impact and promotes the transition to a more sustainable future.
The authorities still have to give the green light for entry. This is expected by the first half of 2025.
ePaper
Analyzing the recent news article regarding Lenzing AG’s strategic move to acquire a minority share in TreeToTextile AB, it is evident that this partnership is poised to revolutionize the production of cellulose fibers. According to the announcement made on Monday, Lenzing AG has joined forces with existing shareholders H&M, Inter IKEA Group, Stora Enso, and LSCS Invest, demonstrating a significant investment in the pursuit of sustainable production methods [[1]].
Founded in 2014, TreeToTextile AB has been operating pilot plants for the sustainable production of cellulose fibers since 2015, and a demo system has been available since 2021 [[1]]. The company is now scaling production to bring the fibers onto the market, signaling a significant step forward in the transition towards more eco-friendly textile production.
As stated by Lenzing CEO Rohit Aggarwal, this partnership represents a substantial investment, with the specific percentage of TreeToTextile AB that Lenzing AG has acquired not disclosed [[2]]. However, the collaboration between these industry leaders is expected to drive innovation and promote sustainable practices within the textile industry.
This strategic acquisition and partnership align with Lenzing AG’s commitment to reducing environmental impact and promoting a more sustainable future. By joining forces with other industry leaders, Lenzing AG has reaffirmed its dedication to developing and implementing cutting-edge technologies that benefit both the environment and the textile industry as a whole.
the acquisition of a minority share in TreeToTextile AB by Lenzing AG represents a significant investment in the pursuit of sustainable cellulose fiber production. This partnership, combined with the expertise and resources of the companies involved, is poised to drive innovation and promote eco-friendly practices within the textile industry.
