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Investment

Citing tariffs and labor, Lenzing delays a cellulosic fiber plant

by Michael McCoy
September 29, 2018 | APPEARED IN VOLUME 96, ISSUE 39

 

Lenzing says it is halting its project to build a cellulosic fiber plant in Mobile, Ala.“The rising likelihood of increasing trade tariffs, paired with the potential surge in construction costs due to the buoyant US labor market, have increased the risk profile of this project,” the Austrian chemical maker says in a statement. Lenzing announced the $300 million project in 2016, saying the plant would be the largest in the world for its Tencel cellulosic fiber. Now the firm says it will focus on an expansion in Thailand while it regularly reviews the U.S. situation.

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