VIENNA May 16 Austrian fibre-maker Lenzing's
first-quarter net profit almost doubled compared with
last year to 75 million euros ($82 million), helped by higher
prices, surpassing the average estimate in a Reuters poll of
"Assuming that fiber market conditions remain at current
levels, we expect a substantial earnings improvement this year,"
Chief Executive Stefan Doboczky, who is pushing the group to
focus on high-margin special fibres, said on Tuesday.
Lenzing is also expanding its production capacities for its
Tencel fibres, saying its site in Alabama will be finished in
the first quarter of 2019 and that it was considering potential
sites for a further plant in Asia.
($1 = 0.9098 euros)
(Reporting By Shadia Nasralla; Editing by Biju Dwarakanath)