Birla Cellulose signs LOI with Renewcell to supply high quality Liva Reviva textile fibers

31 Mar 2022 , 02:54 PM

Birla Cellulose, the pulp and fibre business of Grasim Industries Ltd., has signed a Letter of Intent with the Swedish textile-to-textile recycling innovator Renewcell, concerning a long-term commercial collaboration for manmade cellulosic fiber production.

The agreement underlines the two companies’ intent to work together to supply high-quality Liva Reviva textile fibers made using Circulose, and Renewcell’s 100% recycled textile raw material, to global fashion brands and the textile industry in the coming years.

The companies’ shared vision is to use 30,000 tonnes of Circulose per year. The agreement has been facilitated by Renewcell’s exclusive global trading partner, Ekman Group.

The Letter of Intent signed between Renewcell, and Grasim Industries Limited highlights the framework for a future offtake agreement between the two companies. The upcoming offtake agreement will define commercial delivery terms for certain volumes of Circulose dissolving pulp to Birla Cellulose over several years. Birla Cellulose envisages using Circulose as one of the feedstocks in the production of man-made cellulosic fibers under the brand Liva Reviva, to be supplied to textile manufacturers and fashion brands worldwide.

Grasim Industries is currently trading at Rs1,660.55 down by Rs7 or 0.42% from its previous closing of Rs1,667.55 on the BSE. It touched intraday high and low of Rs1,677.60 and Rs1,650.95 respectively.