Spinnova Signs Non-Binding Term Sheet
Spinnova has signed a non-binding term sheet to secure full ownership of Woodspin demo plant. Woodspin Oy, the exclusive producer and distributor of wood-based SPINNOVA fibre, is a joint venture owned by Spinnova Oyj and Suzano S.A. The strategic review of Woodspin started in February 2025, leading to significant changes and negotiations.
Acquisition Details
- Spinnova Oyj to acquire all Woodspin Oy shares from Suzano S.A. for EUR 1.
- Acquisition of all Suzano Finland Oy shares for EUR 1, including assets for refining and MFC technology.
- Termination of joint venture agreement to allow technology licensing and a EUR 5 million capital contribution by Suzano.
Impact and Future Steps
The acquisitions will grant Spinnova full ownership of the demo facility, with transactions expected to conclude by August 2025. Change negotiations at Woodspin have resulted in temporary layoffs while Spinnova seeks operational alternatives.
For more information, contact Janne Poranen, CEO, Chair of the Board.
Spinnova Technology
Spinnova’s innovative technology revolutionizes textile manufacturing, utilizing wood pulp or waste to create eco-friendly SPINNOVA fibre without chemicals. The technology ensures minimal environmental impact, biodegradability, and recyclability.
For further details, visit Spinnova’s official website.
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