Finnish pulp and paper manufacturer Stora Enso has acquired Sweden-based Cellutech for an undisclosed amount.
The deal will support Stora Enso’s commitment to replace fossil-based materials with renewable materials made using wood. It will not have a financial impact on the group.
Stora Enso Biomaterials executive vice-president Markus Mannström said: “The acquisition of Cellutech will add a new dimension to our fibre and cellulose capabilities, particularly in lightweight foams and spheres.
“We are investing in technologies and expertise that will further broaden application development competence in Stora Enso’s Biomaterials Division.”
Cellutech develops new materials and applications based on cellulose, micro-fibrillated cellulose (MFC) and other wood-based components for packaging applications. It works on foams used in packaging and hydroponics. Cellulosic foams can be used in packaging as a replacement for polystyrenes.
Stora Enso offers renewable solutions in packaging, biomaterials, wooden constructions and paper. The company currently has around 26,000 employees in more than 30 countries.
In May, Stora Enso signed a joint development deal with Sulapac to accelerate the use of fully renewable, recyclable and biodegradable materials in packaging to fight plastic waste.
This partnership enables Stora Enso to licence Sulapac’s materials and technology, and develop fully renewable caps and closures for liquid packages.
The company agreed to sell its 35% share in equity-accounted investment Bulleh Shah Packaging (BSP) to main shareholder Packages last year.