Spinnova received news that Suzano will not invest in further collaboration efforts. This decision prompts a strategic review involving Woodspin and renegotiation of exclusivity rights. Spinnova will conduct its strategic review, expecting no factory investment from Suzano soon. The joint venture partners will review Woodspin and assess termination terms of exclusivity rights. Spinnova will also evaluate its overall strategy and joint ventures, updating strategic targets and financial guidance for 2025. The company plans to complete the strategic assessment in the next few months. Spinnova, known for its innovative textile material technology, continues to attract interest for its sustainable fiber production. To learn more, contact CEO Tuomas Oijala. Spinnova’s shares (SPINN) are listed on Nasdaq First North Growth Market Finland.
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