Suzano stops financing Woodspin, remains shareholder of Spinnova

Suzano, the Brazilian cellulose producer and investor of Spinnova's Woodspin plant that produces wood-based fibres, will not invest further in the next phase of its cooperation with the Finnish textile innovator and will temporarily stop financing the plant. Both companies are starting a strategic review of Woodspin and will renegotiate the exclusivity rights, according to a joint press release.