By  on August 21, 2014

VIENNA (Reuters) — Viscose fibers maker Lenzing announced higher savings targets on Thursday after first-half operating profit more than halved on deteriorating viscose prices.

The Austrian company, which is the world's biggest maker of cellulose fibers including its trademark Tencel, said it now expected cost savings of up to 90 million euros, or $119 million, this year, half as much again as originally planned.

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