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Lenzing: Economic crisis hits plastics sales and profits in 2009

Lenzing Plastics (www.lenzing-plastics.com), part of manmade fibres producer Lenzing (Lenzing / Austria; www.lenzing.com), has reported an operating loss (EBIT) of EUR 9.8m in 2009, compared with a profit of EUR 7.3m in 2008. Sales fell to EUR 148m in the year, from EUR 182m in 2008. The company said that poor economic conditions in the construction and automotive industries and in industrial and infrastructure investment had hit sales in the segment, which accounts for 12% of the company’s total sales.

Lenzing said the market for its plastics business is expected to remain difficult in 2010, although optimisation measures are expected to improve results over 2009.

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