OSLO – Finnish forest products group Metsä Group has abandoned plans for a major new textile fibre mill. The company has warned that global overcapacity in man-made cellulosic fibres (MMCFs) is undermining the business case for higher-cost, responsibly produced materials.
Metsä Group said it will not proceed with its proposed Kuura textile fibre mill in Kemi, Finland, which had been expected to have annual capacity of around 100,000 tonnes. It cited a sharp deterioration in market conditions, driven particularly by the rapid addition of new MMCF production capacity in Asia.
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