EANS-News: Lenzing AG / Lenzing reacts to changed market environment, upgrading of production and sales operations

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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Board of Directors (Appointments and Changes)

Lenzing (euro adhoc) - -Lenzing Management Board to be expanded to
four members -CFO Thomas Winkler steps down effective at the end of
the year

As a result of the changed market environment, the company's
production operations as well as marketing and sales activities will
be upgraded. In the future Lenzing's Management Board will consist of
four instead of three members. CEO Peter Untersperger will not only
be supported by a Chief Financial Officer and a Chief Operating
Officer for Production, but also a Chief Sales and Marketing Officer.

The global market environment in the viscose fiber segment remains
challenging for Lenzing, the world market leader. Excess production
capacity has been built up due to the weaker growth in China and the
ongoing investment activity in the fiber industry. Lenzing has
decided to even more rigorously implement its specialty strategy in
response to the changed business environment. In turn, this has led
to a restructuring of the Management Board. Chief Operating Officer
Friedrich Weninger, who has responsibility for the company's global
fiber business, will focus more intensely on Lenzing's core activity
of production effective immediately. This step is particularly
necessitated in the light of the coming on stream of
theTENCEL®production plant at the Lenzing site, involving planned
investment costs of EUR 150 mn. The new facility, which is already
expected to be put into operation in 2014, will increase production
capacity for this specialty fiber by about 40% to a level of 220,000
tons annually. The future Chief Sales and Marketing Officer will
ensure the optimal marketing of the additional production volumes.

In mutual agreement with the Supervisory Board, Thomas G. Winkler,
Chief Financial Officer of Lenzing AG, will step down from his
position on the Management Board effective at the end of 2013 because
of differing opinions related to the future course and organization
of the Lenzing Group. Mr. Winkler has agreed to serve the company in
an advisory capacity for another year.

"Lenzing achieved the best results in the history of the company in
2011 and 2012. We owe this success also to the successful capital
measures which took place under the leadership of Thomas Winkler, to
whom I would like to express our wholehearted thanks and appreciation
on behalf of the Supervisory Board", states Michael Junghans,
Chairman of the Supervisory Board of Lenzing AG. In 2011 Lenzing
successfully carried out a Re-IPO, and issued a corporate bond the
year before and a German Private Placement in 2012. On balance, these
capital measures raised some EUR 400 mn in fresh capital, and
resulted in a fundamental reorientation of the company's capital
structure.

Further inquiry note:
Lenzing AG
Mag. Angelika Guldt
Tel.: +43 (0) 7672-701-2713
Fax: +43 (0) 7672-918-2713
mailto:a.guldt@lenzing.com

end of announcement euro adhoc
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company: Lenzing AG

A-A-4860 Lenzing
phone: +43 7672-701-0
FAX: +43 7672-96301
mail: a.guldt@lenzing.com
WWW: http://www.lenzing.com
sector: Chemicals
ISIN: AT0000644505
indexes: WBI, ATX, Prime Market
stockmarkets: free trade: Berlin, official market: Wien
language: English