Spinnova completes transaction to buy Suzano’s stake in Woodspin Oy and Suzano Finland Oy
SPINNOVA PLC, PRESS RELEASE, 6 OCTOBER 2025 AT 9.00 A.M. UCT+2
Spinnova completes transaction to buy Suzano’s stake in Woodspin Oy and Suzano Finland Oy
On 27 August 2025, Spinnova Plc announced that it had signed binding agreements to acquire all shares of Woodspin Oy and Suzano Finland Oy from Suzano S.A. and take full ownership of the businesses. The transaction was subject to certain customary closing conditions which have now been fulfilled. The transaction was completed on 3 October 2025.
Woodspin and Suzano Finland will be included in reporting as a part of Spinnova Group as of 3 October 2025.
Spinnova Plc
For further information, please contact:
Janne Poranen
CEO, Chair of the Board
Tel. +358 20 703 2430
ir@spinnova.fi
Certified advisor:
Aktia Alexander Corporate Finance Oy
+358 50 520 4098
Distribution:
Nasdaq Helsinki
Key media
Spinnova – The textile material innovation
Spinnova technology transforms the way textiles are manufactured globally. Based in Finland, Spinnova has developed breakthrough patented technology for making textile fibre out of wood pulp or waste, such as leather, textile or agricultural cropping waste, without harmful chemicals or dissolving.
Spinnova technology creates no side streams in the fibre production process, and the SPINNOVA® fibre has minimal CO2 emissions and water use, as well as being biodegradable and recyclable. Spinnova technology uses a mechanical process which gives the fibre the look and feel of a natural cellulosic fibre such as cotton.
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