Lenzing is growing its business operations in Europe.

The fiber innovation company is expanding its specialty fibers capacities by 35,000 tons within the next two years. Its existing sites in Austria and the U.K. will now have financial assistance to upgrade equipment and increase employment.

“We will invest more than 100 million euro ($111.45 million) over the next 20 months to expand production capacities for our high-quality botanic fibers, 70 percent at the Heiligenkreuz site and 30 percent at Lenzing,” said CEO Stefan Doboczky. “Given the strong market demand this expansion will help our customers in their growth plans as well as expanding our global market leadership position for specialty fibers.”

Read more at Sourcing Journal.