Spinnova Oyj has announced the signing of binding agreements with Suzano S.A., marking a decisive step in the company’s strategic realignment of its wood-based fibre business.
Under the deal, Spinnova will acquire 100% ownership of Woodspin Oy and Suzano Finland Oy for a nominal purchase price of EUR 2.
The agreements, signed following a strategic review launched earlier this year, give Spinnova complete ownership of both Woodspin, the producer and distributor of SPINNOVA® fibre, and Suzano Finland, the raw material provider. The transactions are expected to close within the coming weeks, subject to standard conditions.
As part of the arrangement, Suzano will make a EUR 5 million capital contribution to Woodspin and Suzano Finland before the closing. At the same time, the joint venture agreement between the two companies will be terminated, giving Spinnova the freedom to license its proprietary technology independently.
Exclusive Demo Facility Secured
With the acquisition, Spinnova also gains full ownership of the only large-scale demo facility capable of producing SPINNOVA® fibre from pulp to bale. The facility, which includes all necessary infrastructure and utilities, represents a crucial asset for scaling production.
Operations at Woodspin, however, have been placed on hold until further notice while the company evaluates options for future activities.
Financial Impact
Spinnova stated that the deal will not have a negative near-term cash flow impact. However, the company has already recognized an impairment loss on Woodspin, which will weigh on its 2025 financial results. The exact impact will be disclosed in Spinnova’s Half-Year Report for January–June 2025, scheduled for release on 28 August 2025.
The first announcement of an impairment loss was communicated in Spinnova’s June 10, 2025, release, available on the company’s website.
Spinnova has not provided financial guidance for 2025.
Background
Woodspin Oy was established as a 50–50 joint venture between Spinnova Oyj and Brazil-based Suzano S.A., with the goal of producing sustainable, wood-based fibres. A strategic review of Woodspin began in February 2025, and a non-binding agreement was signed in June 2025, paving the way for today’s binding deal.
With full ownership and exclusivity rights secured, Spinnova is now positioned to steer its fibre innovation strategy independently while maintaining control over its most critical assets.
