Woodspin joint venture teeters on the brink

As part of its on-going review, Finland-based Spinnova says it’s assessing whether to continue its Woodspin operations or to close it down given it has a “heavy cost structure” and is unprofitable.

The company currently employs a total of 33 people and uses patented technology to create biodegradable and recyclable fibre out of wood pulp or waste, such as leather, textile or agricultural cropping waste, without harmful dissolving chemicals and with minimal CO2 emissions and water use.