STOCKHOLM – Swedish textile recycler Renewcell has revealed that sales of its Circulose pulp are significantly lower than expected and it is now set to miss its target of breaking even by the end of this year.
Production at Renewcell's flagship factory at Sundsvall, Sweden - billed as the world’s first industrial scale 100% textile-to-textile recycling plant - started at the beginning of this year but production is still short of the initial target of 60,000 tonnes a year.
The company has now announced a preliminary update on its financial results for the third quarter of the year (Q3) in which it says sales to textile manufacturers are taking longer to ramp up than expected.
