Jyväskylä materials-technology company that turns wood pulp and waste streams into a textile fibre, SPINNOVA® (Spinnova Oyj / Spinnova Plc, business ID 2653299-6, Palokärjentie 2–4, 40320 Jyväskylä). On 17 September 2026 it signed a letter of intent on the potential acquisition of its Portuguese yarn partner Tearfil – Indústria Têxtil, S.A. (NIF 514993820, Moreira de Cónegos, Guimarães), a spinning mill in a PER restructuring, and on 30 September it signed a binding €1.5 million loan agreement to provide bridge financing to the mill. Completion of the acquisition is targeted for the first quarter of 2027.
Jyväskylä materials-technology company that turns wood pulp and waste streams into a textile fibre, SPINNOVA® (Spinnova Oyj / Spinnova Plc, business ID 2653299-6, Palokärjentie 2–4, 40320 Jyväskylä). On 17 September 2026 it signed a letter of intent on the potential acquisition of its Portuguese yarn partner Tearfil – Indústria Têxtil, S.A. (NIF 514993820, Moreira de Cónegos, Guimarães), a spinning mill in a PER restructuring, and on 30 September it signed a binding €1.5 million loan agreement to provide bridge financing to the mill. Completion of the acquisition is targeted for the first quarter of 2027.
The relationship predates the deal. On 14 January 2026 Spinnova and Tearfil signed a first, non-binding letter of intent under which the Guimarães mill would secure access to future SPINNOVA® fibre volumes and introduce yarn blends containing the fibre to European textile customers. The September letter of intent, announced as inside information on 17 September, put €500,000 on Tearfil’s shares, payable in cash and Spinnova shares, alongside a planned €1.5 million bridge loan; ECO and Jornal de Negócios reported on 18 September that the mill is in a PER, the Portuguese court-supervised pre-insolvency process, with Negócios citing debts of €16 million and 135 workers. Spinnova then signed the binding €1.5 million loan agreement on 30 September.
The acquisition itself remains conditional on due diligence, approval by Spinnova’s board, approval of Tearfil’s PER plan by its creditors and the competent Portuguese court, and definitive transaction documents. NorthSouth HQ covered the terms in Finland’s Spinnova moves to buy Tearfil, the Guimarães spinning mill behind its wood-based fibre.
Spinnova sits inside the Portugal ↔ Scandinavia business corridor that NorthSouth HQ tracks every day. A Finnish fibre developer moving to own a spinning mill in the Ave valley reverses the corridor’s usual textile flow, in which Portuguese factories make yarn and garments for Nordic brands — a corridor that is accelerating in 2026.
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