Suzano pulls plug on Woodspin investment with Spinnova

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The Brazilian wood pulp giant Suzano has halted investment plans in its joint venture with the Finnish textile fibre innovator while a ‘strategic review’ takes place.

Fibre production at Woodspin
Fibre production at Woodspin

Spinnova which creates textile fibres from wood and textile waste has confirmed that Brazilian wood pulp giant Suzano has frozen investment plans in its previously announced joint venture with the company.

The Finnish-based innovator says instead the companies will begin a ‘strategic review’ of Spinnova’s ‘Woodpsin’ technology, pause development plans for a production facility, and instead will start talks on exclusivity rights for the technology.

 

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