Spinnova to Write Down Woodspin Assets
Spinnova has announced a strategic move to acquire all Suzano’s Woodspin shares for one euro, leading to a necessary write-down of Woodspin assets. This decision follows a detailed review of Woodspin’s operations… (more details on the Spinnova website).
Environmental Sustainability and Textile Innovation
Spinnova’s groundbreaking technology revolutionizes the global textile industry by producing fiber from wood pulp or waste without harmful chemicals. The SPINNOVA fiber boasts minimal CO2 emissions, water use, and is both biodegradable and recyclable. Unlike traditional methods, Spinnova’s mechanical process mimics the appearance and texture of natural cellulosic fibers like cotton.
Company Information
Spinnova, a Finnish-based company, is listed on the Nasdaq First North Growth Market under the symbol SPINN. Woodspin Oy, a joint venture between Spinnova Oyj and Suzano S.A., exclusively produces and distributes wood-based SPINNOVA fiber.
Contact: Janne Poranen, CEO, Chair of the Board
Certified Advisor: Aktia Alexander Corporate Finance Oy
For more information, visit the SPINNOVA home page.
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