Billerud
Billerud AB is a Swedish pulp and paper manufacturer with headquarters in Solna, Sweden. The company simplified its name from BillerudKorsnäs to Billerud after the acquisition of Verso 2022, an American producer of coated paper. Billerud has nine production facilities in Sweden, Finland and the USA with around 5,800 employees in over 13 countries.
 Billerud's pulp factory in Karlsborg, Kalix, 2012 | |
| Company type | Publicly traded Aktiebolag |
|---|---|
| Nasdaq Stockholm: BILL[1] | |
| Industry | Forestry products |
| Founded | 29 November 2012 |
| Headquarters | Solna, Sweden |
Key people | Jan Svensson(Chairman) Johann Christoph Michalski(CEO) |
| Products | Paper and pulp, sawn timber, paperboard |
| Revenue | SEK 26 206 billion[2] |
| SEK 1 989 billion | |
| Total assets | SEK 37 978 billion |
| Total equity | SEK 20 041 billion |
Number of employees | ≈5 800 - March 2022[2] |
| Website | www |
Its production units are located in Grums, Skärblacka, Frövi/Rockhammar, Gävle and Karlsborg in Sweden, Jakobstad in Finland, Escanaba, Quinnesec and Wisconsin Rapids in the US.
History
The company was formed in November 2012 through the merger of Billerud AB and Korsnäs AB.[3]
In the 2012 merger, Billerud was the formal buyer. Korsnäs' owner, Investment Kinnevik AB, received a sum of SEK 3.2 billion as well as 25.1% of the votes in the new company and consequently became the largest owner in the merged BillerudKorsnäs.[4] Behind the merger, was an ambition to become an internationally leading packaging manufacturer.
During the same year, BillerudKorsnäs acquired paper production facilities both in Jakobstad and Tervasaari, Valkeakoski, in Finland from UPM Kymmene. Valkeakoski was closed down and the paper machine for MG paper was moved to Skärblacka mill in 2017.[5]
In 2013, Kinnevik sold its shares in BillerudKorsnäs to pension firms AMF, Alecta and the Fourth Swedish National Pension Fund.[6]
In March 2022, BillerudKorsnäs completed its acquisition of the US-based coated paper company, Verso Corporation for $825m in cash.[7] As a result of the acquisition, according to a press release in October 2022, the company changed its name from BillerudKorsnäs to Billerud "to cater to its international customers".[8]
Production units
In Sweden
- Gruvön Mill – produces cup stock, fluting, formable paper, kraft paper, liners, sack paper and liquid packaging board
- Skärblacka Mill – produces white machine glazed kraft paper, brown sack paper and fluting
- Karlsborg Mill – produces kraft paper, sack paper, formable paper (FibreForm®) and pulp
- Frövi Mill – produces cartonboard and liquid packaging board
- Gävle Mill – produces liquid carton and liners.
In the US
- Escanaba Mill – produces graphic papers used in commercial printing, media and marketing
- Quinnesec Mill – produces graphic papers used in commercial printing, media and marketing
- Wisconsin Rapids Converting Facility – converts rolls of paper into folio and digital sheet.
In Finland
- Jakobstad Mill – produces kraft- and sack paper for food packaging and carrier bags.
Product areas
In 2021, Board corresponds to 57% of the group's net sales and paper corresponds to 31%.[9][2]
Corporate leadership
Chairmen of the Board
- Hannu Ryöppönen, 2012–2014
- Lennart Holm, 2014–2019
- Jan Åström 2019-2021
- Jan Svensson 2021-
Chief Executive Officer
- Per Lindberg, 2012–2017
- Petra Einarsson, 2018–2019
- Lennart Holm, 2019-2020 (acting CEO)
- Christoph Michalski, 2020-
Ownership Structure
The largest shareholders are AMF Pension & Funds with 14.2 percent of the votes and Frapag Beteiligungholding AG with 12.1 percent (as of April 30, 2022).
See also
References
- ^ "BillerudKorsnäs: Year-End report January-December 2012". Business Wire. 2013-02-08. Retrieved 2014-07-11.
- ^ a b c "BillerudKorsnäs: Annual report 2021" (PDF). Billerudkorsnas.com. Retrieved 2022-09-22.
- ^ "The combination between Billerud and Korsnäs is now completed and BillerudKorsnäs is formed". www.businesswire.com. 2012-11-29. Retrieved 2022-11-15.
- ^ Office for Publications of the European Union (2012-11-27). "REGULATION (EC) No 139/2004 MERGER PROCEDURE" (PDF). European Commission, official website. Retrieved 2022-11-15.
{{cite web}}: CS1 maint: url-status (link) - ^ "Framtiden fanns i Sverige". Dagens Arbete (in Swedish). 2017-08-07. Retrieved 2022-06-15.
- ^ "Kinnevik sells holding in BillerudKorsnas for 3.7 bln SEK". Reuters. 2013-12-09. Retrieved 2022-11-15.
- ^ "BillerudKorsnäs acquires coated paper producer Verso for $825m". Packaging Gateway. 2022-04-01. Retrieved 2022-04-03.
- ^ "BillerudKorsnäs becomes Billerud". Billerud. Retrieved 2022-11-15.
- ^ "BillerudKorsnäs Product Areas". Billerudkorsnas.com. Retrieved 2022-09-22.
