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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  Hennes & Mauritz AB    HM B   SE0000106270

HENNES & MAURITZ AB

(HM B)
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Hennes & Mauritz : H&M, IKEA and Stora Enso backed TreeToTextile builds sustainable fibre demo plant

02/23/2021 | 04:27am EST
Closed shop due to the COVID-19 pandemic in Munich

STOCKHOLM (Reuters) - A venture part-owned by Finnish forestry group Stora Enso, Sweden's H&M and IKEA said on Tuesday it was set to build a demonstration plant in Sweden for a new, more sustainable wood-based textile fibre after years of research.

To markedly reduce their climate footprint and pollution, large apparel and furniture brands are in dire need of affordable greener alternatives to cotton, traditional viscose and polyester. Several Nordic pulp makers are part of projects developing new clean ways https://www.reuters.com/article/us-nordics-forestry-idCAKCN0WF076 to turn trees into textile fibre.

TreeToTextile said in a statement its plant would have a production capacity of 1,500 tonnes and its owners would fund the bulk of the 35 million euro ($42.6 million) investment.

"The novel process is deliberately designed to have low energy demand and low chemical need. It is engineered to suit large scale production and includes a recovery systemfor reusing chemicals," it said.

"By investing in a demonstration plant, we are finally on the go. With it we are turning years of R&D into reality to increase the biobased share on the textile market to support climate action."

TreeToTextile, whose fourth part-owner is innovator Lars Stigsson, said the plant would be located at Stora Enso's Nymolla mill in Sweden, and its construction would start in the near future.

Viscose is the main existing textile fibre from wood pulp - followed by the newer lyocell which has a cleaner manufacturing method. Production is dominated by Austria's Lenzing, India's Aditya Birla and China's Sateri.

($1 = 0.82 euros)

(Reporting by Anna Ringstrom; Editing by Angus MacSwan)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HENNES & MAURITZ AB 0.87% 197.2 Delayed Quote.13.66%
STORA ENSO OYJ 5.06% 16.595 Delayed Quote.0.96%
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Financials
Sales 2020 187 B 22 516 M 22 516 M
Net income 2020 1 098 M 132 M 132 M
Net Debt 2020 70 670 M 8 508 M 8 508 M
P/E ratio 2020 289x
Yield 2020 1,17%
Capitalization 324 B 39 041 M 38 954 M
EV / Sales 2020 2,11x
EV / Sales 2021 1,62x
Nbr of Employees 153 000
Free-Float 43,5%
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 180,08 SEK
Last Close Price 195,50 SEK
Spread / Highest target 9,97%
Spread / Average Target -7,89%
Spread / Lowest Target -51,4%
EPS Revisions
Managers and Directors
NameTitle
Helena Helmersson Chief Executive & Operating Officer
Adam Karlsson Chief Financial Officer
Karl-Johan Erling Persson Chairman
Joel Ankarberg Chief Technology Officer
Anders Gunnar Dahlvig Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
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