Spinnova puts his strategy to the test
After Suzano, the Brazilian pulp producer and investor of the Woodspin factory, decided not to invest in the next phase of collaboration, the Finnish textile technology company survives its strategy in relation to the project.
“The end of the collaboration with Suzano has an immediate impact on our short -term strategic decisions,” explains Janne Pranen, CEO and co -founder of Spinnova. “We will revise our strategy to take current developments into account.”
The Finnish company continues to see great interest from other market players in the fiber and technology of Woodspin. Therefore, the conditions for a possible cancellation of exclusive rights within the joint venture agreement will be examined, according to Tuomas Oijala, CEO from Spinnova.
Suzano justified his decision with a realignment of the priorities and capital allocation-not with a lack of trust in Spinnova technology, as is emphasized in the current annual report. Both companies have agreed to initiate a strategic review of the Woodspin joint venture, which should be completed within a few months.
Despite these changes, Suzano remains the shareholder of the Finnish company. Meanwhile, Spinnova continues the development and demonstration of its fiber technology and has already introduced its own MFC concept (microfibrillated cellulose), which depicts the entire process chain from cellulose to the finished fiber.
In addition, Spinnova has had a cooperation with Valmet, a worldwide leading technology supplier who will provide plants for new production facilities in the future. This partnership should also make access to new market opportunities easier. In addition, Spinnova signed a declaration of intent with ECCO in July, which aims to scale the production of leather -based fibers within Respin. Both companies plan to make a decision on scaling and commercialization by the end of the first quarter of 2025.
This article was used with digital tools translated.
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