Spinnova says JV pact with Suzano will be ended

Spinnova says JV pact with Suzano will be ended

Spinnova Plc has signed binding agreements to acquire all shares of Woodspin Oy and Suzano Finland Oy from Suzano S.A. for a total of EUR 2. This transaction, subject to customary closing terms, is expected to close within the next couple of weeks [1].

The agreement grants Spinnova full ownership of Woodspin, the exclusive producer and distributor of wood-based SPINNOVA® fibre, and Suzano Finland Oy, the provider of raw material for SPINNOVA® fibre production. Suzano will also make a capital contribution of EUR 5 million in total to Woodspin and Suzano Finland [1].

Spinnova’s strategic review of the Woodspin joint venture began in February 2025, culminating in a non-binding term sheet signed in June 2025. The joint venture agreement between Spinnova and Suzano will be terminated, allowing Spinnova to license technology freely [1].

The acquisition will not have a negative cash flow impact on Spinnova in the short term. However, Spinnova has recognized an impairment loss on Woodspin, which will negatively impact its results in 2025. The impact of the impairment will be communicated in the Half-Year Report for January-June 2025 to be published on 28 August 2025 [1].

Spinnova’s shares (SPINN) are listed on the Nasdaq First North Growth Market Finland. For further information, please contact Janne Poranen, CEO and Chair of the Board, at +358 20 703 2430 or ir@spinnova.fi [1].

References:
[1] https://www.tradingview.com/news/reuters.com,2025-08-27:newsml_Wkr2yGjQP:0-binding-agreements-signed-spinnova-buys-all-woodspin-and-suzano-finland-shares-and-secures-exclusivity-rights-on-wood-based-fibre/