The Finnish textile technology company Spinnova PLC carried out the full takeover of the companies Woodspin Oy and Suzano Finland Oy agreed in August. The company took over all shares of the Brazilian group Suzano SA to the previous joint venture for a total purchase price of just two euros.
According to a message, the transaction was carried out on October 3, 2025. Spinnova is now the sole owner of Woodspin, the exclusive producer and distributor of the wood-based Spinnova fiber, the raw material supplier Suzano Finland. As part of the agreement, Suzano committed to a capital contribution of five million euros to the companies taken over.
This strategic step ends the joint venture agreement with Suzano. Spinnova now has the option of freely licensing his technology and is the sole owner of the only major demonstration system. According to the company, this has the necessary infrastructure and capacity to produce the Spinnova fibers from the pulp to bale.
Woodspin and Suzano Finland will be included in the reporting of the Spinnova Group from October 3, 2025. However, the operation at Woodspin was discontinued until further notice. The company is currently looking for alternative solutions for a possible continuation.
This article was used with digital tools translated.
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