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People & Business :: Green Issues
Stora Enso acquires North American biotechnology company
10:37 AM MDT | July 24, 2014 | Francinia Protti-Alvarez
Stora Enso (Helsinki) has acquired 100% of the shares of the Virdia (Danville, VA), a developer of extraction and separation technologies for converting cellulosic biomass into highly refined sugars and lignin, Stora Enso says. The transaction was valued at about $33 million with additional potential payouts totaling approximately $29 million following specific technical and commercial milestones by 2017, Stora Enso says. “This acquisition is in line with our strategy of growing in biobased chemicals, ingredients, and solutions, building on...
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