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Stora Enso has completed the divestment of its biocomposites business at Hyltebruk as announced in September. Biocomposites started as an innovation project in the Hylte paper mill in 2013 with the ambition to make plastics more sustainable by replacing fossil-based materials with wood. The granules produced at the site is a compound material combining the characteristics of plastics with the sustainability features of wood. The material allows brand owners to reduce the plastic content by 30 – 50% depending on application and still process it using existing technologies for injection molded and extruded products.
Over the years, the team has built up substantial knowhow and filed several patents related to the production technology and materials. The innovative material and its wide range of applications have received a lot of positive attention over the past years. Customers include manufacturers of toys, floorings and safety equipment, to mention a few. Even some of the world’s most recognized global brands are among the customers.
Biocomposites has struggled to find the right strategic fit within Stora Enso but has now found a new home with Sweden Timber which recently acquired the Hylte paper mill. The divestment marks a new beginning for the business which will change name to Woodcomposites.
“Innovation is not a linear path to success but one of constant trial and error. The team has been very dedicated to experimenting with the material, business models and target customers. In fact Biocomposites has managed to make new commercial breakthroughs in 2023 despite a tough economic climate. We are very pleased that new owners can continue to build the business.” Samuli Savo, SVP & Head of Emerging Business.
