⬤ 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 – In addition to the current shareholders H&M Group, Inter IKEA Group, Stora Enso, and LSCS Invest, The Lenzing Group, a prominent provider of regenerated cellulose fibers for the textile and nonwovens sectors, announces the acquisition of a minority investment in TreeToTextile AB. The founders’ shared conviction that fibers sourced responsibly would have the ability to improve the textile sector unites them.
For more than 85 years, the Lenzing Group has been manufacturing dissolving wood pulp and sustainably regenerated cellulosic fibers. With our fibers offered under the TENCEL™, LENZING™ ECOVERO™ and VEOCEL™ trademarks, we are at the forefront of making the fiber business more ecologically friendly. CEO of the Lenzing Group Rohit Aggarwal states, “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.” With this agreement, Lenzing is demonstrating its unwavering commitment to innovation by combining the strength of its own innovation engine with a strong strategic cooperation strategy, all at a major investment. We are eager to support TreeToTextile’s goals with our knowledge.
“Now with the additional expertise and sustainability leadership of our new shareholder Lenzing Group, our speed to market will increase significantly, to reach our ambitious goals and become an important player in the textile industry,” says Dr. Roxana Barbieru, CEO of TreeToTextile.
In 2014, TreeToTextile was founded as a joint venture with the goal of creating a cellulosic fiber production technique that is more sustainable. The business invested in a demonstration plant in 2021 and has been running pilot lines since 2015. The company’s next stage of development will involve increasing production and putting its fibers on the market.
