Fibria, a Brazilian forestry company and the world’s leading producer of eucalyptus pulp from planted forests, signed an agreement to acquire a minority interest in Finnish-based Spinnova and partner in the development, production and marketing of new materials using its technologies. According to the announcement, Fibria is acquiring 18% stake in Spinnova.
Spinnova is a startup that develops low-cost and environmentally sustainable technologies for making fabrics. The technologies uses wood fibers to produce filaments and yarns that can replace cotton, viscose and other raw materials in both woven and nonwoven applications.
The partnership with Spinnova and its technological platform is expected to enable Fibria, as part of its strategy of entering new markets, to develop products with new applications over the coming years.
Marcelo Castelli, Fibria CEO, commented:
“The partnership strengthens Fibria’s positioning for the development of new high-value products that go beyond the commodity concept and complement our global leadership in eucalyptus pulp production. The acquisition of an interest in Spinnova strengthens our portfolio of investments in companies with the capacity to offer solutions for problems related to climate change and the low-carbon economy.”
In 1Q2017 Fibria generated 37% EBITDA margin.
Earlier Fibria informed that it is moving forward the expected date for the completion and startup of the Horizonte 2 Project to build a second pulp production line at its unit in Três Lagoas, Mato Grosso do Sul. Previously scheduled for the fourth quarter of 2017, the mill is now slated to start operations in the third quarter of the year, in September 2017.
The company is a global leader in eucalyptus pulp production. With an annual pulp production capacity of 5.3 million tons, it has industrial units in the cities of Aracruz (Espírito Santo), Jacareí (São Paulo) and Três Lagoas (Mato Grosso do Sul), and in Eunápolis (Bahia), where it operates the Veracel plant through a joint venture with Stora Enso. Fibria owns a forest area of around 1,056,000 hectares, with 633,000 hectares of planted forests, 364,000 hectares of environmental preservation and conservation areas and 59,000 hectares destined for other uses. The pulp manufactured by Fibria is exported to more than 40 countries.