H&M: Stora Enso joins green textile joint venture
(CercleFinance.com) - Finnish forest company Stora Enso will join the joint venture between H&M and IKEA that develops new sustainable fibers at a lower cost, the companies said on Friday.
Stora Enso will add its industrial knowledge and expertise in the cellulose field to the company, called "TreeToTextile," they said in a statement.
Beyond H&M and IKEA, inventor and entrepreneur Lars Stigsson has also taken a stake in the venture. The four partners now have an equal stake in TreeToTextile, which was created in 2014.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Stora Enso will add its industrial knowledge and expertise in the cellulose field to the company, called "TreeToTextile," they said in a statement.
Beyond H&M and IKEA, inventor and entrepreneur Lars Stigsson has also taken a stake in the venture. The four partners now have an equal stake in TreeToTextile, which was created in 2014.
Copyright (c) 2018 CercleFinance.com. All rights reserved.