Suzano, the world’s largest producer of eucalyptus pulp, has recently set up a joint venture with Finnish start-up Spinnova to invest 22 million euros to build its first plant in Finland and enter the global textile fibre market of more than 100 million tons per year.
The new joint venture will produce sustainable textile fibres for the first time from microfibre cellulose (MFC) of wood based on the technology developed by Spinnova. The new product can compete with cotton and VSF in cost and quality. With this product, Suzano will become an important player in the global textile market.
Suzano and Spinnova will have a 50% equity stake in the new company, which will have their own teams to market their products. Suzano is an investor in the Finnish start-up and now owns 23% of it.