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People & Business :: M&A

Finnish pulp company plans demo unit for Virdia's cellulosic sugar platform

9:44 AM MDT | September 3, 2014 | Rebecca Coons

Stora Enso, a Helsinki-based forestry products company, says it will invest €32 million ($43 million) facility at Raceland, LA, for demonstration and market development of Virdia’s (Danville, IA) extraction and separation technology for converting cellulosic biomass into refined sugars and lignin. Stora Enso acquired Virdia in July for $33 million plus additional potential payouts totaling approximately $29 million following specific technical and commercial milestones by 2017. “This investment marks the next step in our strategy for new markets...

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