Sniace is a chemical group established in 1939 and listed in the spanish stock market, is a well-known chemical group, whose main activities are structured into three divisions developed throught three different companies: - Cellulose (Celltech, S.L): manufacturing of cellulose (dissolving pulp) as a raw material of viscose fiber and other applications. - Viscose (Viscocel, S.L): manufacturing of staple viscose fiber for the production of textile, nonwoven fabrics and hygiene applications. - Power generation and Waste Water Treatment Plant (WWTP) (Sniace, S.A): both for internal and external group. The production of viscose is 100% vertically integrated, wich is clear competitive advantage. The company is headquarted in Madrid, being the cellulose and viscose production plants located in Cantabria (north of Spain)