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 6,100 employees in over 13 countries.

Billerud AB
TypePublicly traded Aktiebolag
Nasdaq Stockholm: BILL[1]
IndustryForestry products
Founded29 November 2012
HeadquartersSolna, Sweden
Key people
Jan Svensson(Chairman)
Ivar Vatne(CEO)
ProductsPaper and pulp, sawn timber, paperboard
RevenueSEK 42.590 billion[2]
SEK 5.687 billion
Total assetsSEK 51.415 billion
Total equitySEK 29.254 billion
Number of employees
≈6 100 - Dec 2022[3]
Websitewww.billerud.com

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.[4]

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.[5] 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.[6]

In 2013, Kinnevik sold its shares in BillerudKorsnäs to pension firms AMF, Alecta and the Fourth Swedish National Pension Fund.[7]

In March 2022, BillerudKorsnäs completed its acquisition of the US-based coated paper company, Verso Corporation for $825m in cash.[8] 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".[9]

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 2022, Paper corresponds to 51% of the group's net sales and Board corresponds to 42%.[10]

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, 2020-2023
  • Ivar Vatne, 2023- (acting CEO)

Ownership Structure

The largest shareholders are AMF Pension & Funds with 15.74 percent of the votes and Frapag Beteiligungholding AG with 12.02 percent (as of May 31, 2023).

See also

References

  1. ↑ "BillerudKorsnäs: Year-End report January-December 2012". Business Wire. 2013-02-08. Retrieved 2014-07-11.
  2. ↑ "Year-end report January–December 2022" (PDF). Billerud.com. Retrieved 2023-01-27.
  3. ↑ "BillerudKorsnäs: Annual report 2022" (PDF). Billerud.com. Retrieved 2023-07-10.
  4. ↑ "The combination between Billerud and Korsnäs is now completed and BillerudKorsnäs is formed". www.businesswire.com. 2012-11-29. Retrieved 2022-11-15.
  5. ↑ 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.
  6. ↑ "Framtiden fanns i Sverige". Dagens Arbete (in Swedish). 2017-08-07. Retrieved 2022-06-15.
  7. ↑ "Kinnevik sells holding in BillerudKorsnas for 3.7 bln SEK". Reuters. 2013-12-09. Retrieved 2022-11-15.
  8. ↑ "BillerudKorsnäs acquires coated paper producer Verso for $825m". Packaging Gateway. 2022-04-01. Retrieved 2022-04-03.
  9. ↑ "BillerudKorsnäs becomes Billerud". Billerud. Retrieved 2022-11-15.
  10. ↑ "Billerud Product Areas". Billerud.com. Retrieved 2023-07-10.
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