Displaying items by tag: BillerudKorsnäs

Thursday, 13 October 2022 09:09

BillerudKorsnäs becomes Billerud

BillerudKorsnäs is simplifying its name to Billerud to cater to its international customers. As a leading supplier of virgin fiber-based paper and packaging materials, the name change is fully in line with the company’s strategy to expand into North America and continue driving sustainable growth in global markets.  It is simply easier to say Billerud.

” We are now ready to meet the challenges of the future as one company: Billerud. One year ago, a clear strategic plan was drawn up with the aim of achieving profitable and sustainable sales growth until the year 2030 and to grow in North America. Today we change name to Billerud. The name change is a natural step on our strategic journey”, says Christoph Michalski, President and CEO at Billerud. 

2022 10 13 090901The name simplification to Billerud will be implemented throughout the group starting today.  Billerud’s roots and heritage in the forest and paper industry go back more than 150 years and the company has had several different names.

”It is with pride that Billerud will carry its history into the present. What won’t change is the fact that we help our customers reduce their climate footprint of both their primary and secondary packaging. For us, product superiority is important and the impressive strength of our papers allow customers to use less packaging, save costs and reduce their carbon footprint. We will continue doing that as Billerud”, says Christoph Michalski.

As of today, Billerud's website is called billerud.com, and all employees will have the email address billerud.com. 

 

Read more about Billerud here: www.billerud.com

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Today the Today the Norway’s Prime minister Jonas Gahr Støre and the Minister of Trade and Industry Jan Christian Vestre visited Viken Skog’s Follum mill in Hønefoss. The plan of BillerudKorsnäs and the Norwegian forest owner group Viken Skog to establish production of bleached chemi-thermomechanical pulp (BCTMP) in Norway attracts large interest.

Through a long-term partnership with Viken Skog, BillerudKorsnäs will secure both tailormade BCTMP and wood supply supporting the strategy for sustainable and profitable growth in paperboard. The Follum mill already has much of the infrastructure needed to establish such a production line and is in an area with competitive and sustainable wood supply and good transports to BillerudKorsnäs’ board mills. The ongoing feasibility study is expected to be completed during the first half of 2023.

Olav Breivik Jan Christian Vestre Jonas Gahr Støre og Christoph Michalski Foto BHPOlav Breivik Jan Christian Vestre Jonas Gahr Støre og Christoph Michalski Foto BHP

-          BillerudKorsnäs strategy  has a clear goal - to deliver sustainable growth in packaging materials.  To get the opportunity to develop the new mill in Follum as a state of the art sustainable operation is in line with our strategy. We aim for negative CO2 footprint in production with bio gas and carbon capture,  says Christoph Michalski, President and CEO at BillerudKorsnäs.

The mill will be developed to a sustainable operation with high energy efficiency and low carbon-foot print from the operation and product in the value chain. The concept will include production of biogas, use of excess heat for district heating, and possibly also carbon capture. All these activities will be developed with their domain partners. This project is well aligned with the Norwegian governments ambition to raise new green industry in Norway based on forest and wood resources. In addition, the project is one of the rare large industry projects in the center of Norway, rather than at the coast.

BillerudKorsnäs provides packaging materials and solutions that challenge conventional packaging for a sustainable future. We are a world-leading provider of primary fibre based packaging materials and have customers in over 100 countries. The company has 10 production units in Sweden, Finland and the US and about 5800 employees in over 13 countries. BillerudKorsnäs has an annual turnover of about SEK 37,2 billion and is listed on Nasdaq Stockholm. www.billerudkorsnas.com

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Thursday, 07 April 2022 09:53

BillerudKorsnäs completes acquisition of Verso

BillerudKorsnäs announces the completion of its acquisition of Verso for a purchase price of approximately USD 825 million in cash. Verso is a leading producer of coated paper in North America, with 2021 net sales of USD 1 278 million and adjusted EBITDA of USD 223 million.

The acquisition of Verso reinforces BillerudKorsnäs’ strategy to drive profitable and sustainable growth and its ambition to accelerate its growth in North America. As a result of the acquisition of Verso, BillerudKorsnäs is now one of the largest providers of virgin paper and packaging materials with a cost and quality advantage. Combined 2021 net sales for BillerudKorsnäs and Verso amounted to approximately SEK 37.2 billion.1 

billkorlogoBillerudKorsnäs is committed to continuing to serve Verso’s customers across all segments and realising its previously announced plans to convert several of Verso’s assets into paperboard machines, while maintaining Verso’s position as a quality and cost leader in speciality and coated paper. Effective 1 April 2022, Rob Kreizenbeck, Verso’s SVP of Operations, assumes the position of President, North America in BillerudKorsnäs’ Executive Management Team. Going forward, BillerudKorsnäs intends to simplify its company name and brand to “Billerud”, which it will operate under in all markets, including the U.S. The Board of Directors will propose at the 2022 Annual General Meeting to amend the company’s name to Billerud AB (publ), and the change will be successively implemented thereafter.

“I am very glad to welcome the entire Verso team to BillerudKorsnäs. Our combined assets and expertise in high-quality virgin fibre paper and board packaging materials create an excellent platform for sustainable and profitable growth. Integration work starts immediately, and we look forward to working together, sharing knowledge, initiating preparations for the conversion project and realizing a successful development,” comments Christoph Michalski, President and CEO of BillerudKorsnäs. 

“We are excited to join forces with BillerudKorsnäs and become a larger, stronger organization. Together, we are building a company that is passionately committed to a strong safety culture, sustainability, superior quality and delivering value to our customers,” says Rob Kreizenbeck.

The negative cash flow effect of the acquisition for BillerudKorsnäs amounts to approximately SEK 6.0 billion. The transaction was financed by bank loans, which BillerudKorsnäs plans to refinance through the issuance of debt instruments and an equity rights issue during 2022. Verso will be consolidated in BillerudKorsnäs’ accounts from today and will be reported in the product area Paper. BillerudKorsnäs expects the acquisition to be accretive to earnings per share immediately and to create significant shareholder value over time with a more profitable product mix.

The date of publication of BillerudKorsnäs’ interim report for the first quarter 2022 has been changed to 5 May 2022.

As a result of the transaction, Verso common stock ceased trading on the New York Stock Exchange prior to the opening of trading today.

1) Reported net sales for 2021. Calculation based on USD/SEK 8.58 (average 2021).

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billkorlogoAs earlier communicated, BillerudKorsnäs entered into a merger agreement with Verso Corporation (Verso) under which BillerudKorsnäs agreed to acquire Verso for a purchase price of approximately USD 825 million in cash. Verso is a leading producer of coated papers in North America with reported net sales for 2021 of USD 1 278 million and adjusted EBITDA of USD 223 million.

At a special meeting of Verso’s shareholders held today, holders of the requisite majority of Verso’s outstanding shares of common stock voted to adopt the merger agreement and approve the transaction.

BillerudKorsnäs expects the transaction to close in late-March or April of 2022, subject to the satisfaction of customary closing conditions, including the receipt of remaining regulatory approvals from the U.S. Nuclear Regulatory Commission and the Public Service Commission of Wisconsin.

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BillerudKorsnäs has just announced that its Nomination Committee will propose Magnus Nicolin and Florian Heiserer as new members of the Board at the Annual General Meeting in May 2022.

The Nomination Committee is very pleased to propose two new Board members who will complement the Board’s expertise across several areas and in particular with their US and international experience.

billkorlogoMagnus Nicolin was the CEO of Ansell Limited between 2010-2021, an Australia listed global leader in personal protective equipment. Magnus currently holds the position of non-executive Director of FAM AB and has been proposed as Chairman of Munters AB. Prior to joining Ansell, Magnus held several senior management positions in global companies, including as President, EMEA & Asia Pacific of Newell Rubbermaid Inc and as CEO of Esselte Business Systems Inc. He has also held senior positions in Bayer AG, Pitney Bowes Inc. and McKinsey & Company, as well as board positions in Ansell, Esselte, Isaberg-Rapid and Primix. Magnus has lived and worked in the USA for more than 25 years.

Florian Heiserer is the CFO of HKW Group, a long-term investor focusing on the packaging industry and commercial real estate in Europe and the USA. Frapag Beteiligungsholding AG, part of the HKW Group, is currently the second largest shareholder in BillerudKorsnäs. Prior to joining Frapag in 2015, Florian was a Managing Director of Buy-Out Central Europe II Beteiligungs-Invest AG, an Austrian private equity firm, where Florian also served on the Boards of portfolio companies such as Atterbury S.A. and Chemson Polymer-Additive AG.

The Nomination Committee further proposes re-election of current Board members Andrea Gisle Joosen, Bengt Hammar, Jan Svensson, Jan Åström and Victoria Van Camp, and the re-election of Jan Svensson as chairman of the Board. Michael M.F. Kaufmann, Kristina Schauman and Tobias Auchli have declined re-election at the 2022 Annual General Meeting.

The Nomination Committee would like to thank Michael M.F. Kaufmann, Kristina Schauman and Tobias Auchli for their valuable contribution to the company. The committee also wants to express its special gratitude to Michael M.F. Kaufmann, who has served on the Board of BillerudKorsnäs for 17 years. The long-term strategic and industrial focus of Michael has been instrumental to build BillerudKorsnäs into the world-leading provider of primary fibre-based packaging materials that it is today.

The Nomination Committee in BillerudKorsnäs comprises Tomas Flodén, appointed by AMF Pension & Fonder, Michael M.F. Kaufmann, appointed by Frapag Beteiligungsholding AG, Lennart Francke, appointed by Swedbank Robur fonder and Thomas Wuolikainen, appointed by Fjärde AP-fonden.

The Nomination Committee’s complete proposals will be presented in the convening notice for BillerudKorsnäs’ Annual General Meeting to be held on 10 May 2022.

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BillerudKorsnäs and the Norwegian forest owner group Viken Skog are forming a joint venture to explore the possibilities of working together to establish production of bleached chemi-thermomechanical pulp at Viken Skog’s Follum mill in Hønefoss.

billkorlogoBillerudKorsnäs and Viken Skog plan to initiate a feasibility study about future pulp production at Follum. This will be completed during the first half of 2023. The intention is to establish a state-of-the-art production line for bleached chemi-thermomechanical pulp (BCTMP) at the Follum mill with a capacity assumption of up to 200 kt/a. The Follum mill already has much of the infrastructure needed to establish such a production line and is located in an area with competitive and sustainable wood supply and good transports to BillerudKorsnäs’ board mills.

If the project will proceed after the feasibility study is completed, the investment for BillerudKorsnäs is estimated to be in the range of 600-800 MNOK.

“This initiative forms part of BillerudKorsnäs’ strategy for sustainable and profitable growth and supports our ambition to grow in paperboard. To cover the increasing need for BCTMP for our growing board operations, we want to explore the possibilities of producing this pulp quality in Follum together with Viken Skog. As part of this partnership, the intention is also to enter into a long-term wood supply agreement with Viken Skog. We initially see good prospects for creating an efficient supply chain and competitive access to the raw materials needed to produce the packaging materials of the future,” comments Christoph Michalski, President and CEO of BillerudKorsnäs.

“With BillerudKorsnäs, we have found a solid partner who, like us, wants to implement an efficient supply chain and explore sustainable product opportunities provided by the forest raw material. The existing infrastructure at Follum provides a promising basis for establishing pulp production with a relatively low investment need. We will in the feasibility study also explore the possibilities for producing biogas, and later also solutions for carbon capture at Follum. We are very pleased with the partnership, and we look forward to getting started with the feasibility study,” comments Olav Breivik, Chairman of the Board in Viken Skog.

 

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Monday, 01 November 2021 09:28

BillerudKorsnäs divests the Beetham mill

BillerudKorsnäs has today agreed with the British investment firm Inspirit regarding the divestment of the Beetham mill. The transaction is completed today. The purchase price corresponds to an equity value of around SEK 30 million.

billkorlogo“The strategic importance of the Beetham mill for the rest of the group has been reduced since the investments in machine glazed (MG) paper production at Skärblacka a couple of years ago. With Inspirit, the Beetham mill gets an owner with the intention and resources to develop the business further,” comments Christoph Michalski, President and CEO. 

The transaction results in a capital loss of around SEK 120 million that will have a negative impact on BillerudKorsnäs’ 2021 fourth quarter results.

The Beetham mill, acquired by Billerud in 2004, produces paper for medical equipment, food packaging and industrial applications. During the last twelve months, Beetham had net sales of around SEK 480 million and an operating profit of around SEK 13 million. The mill has an annual production capacity of 45 000 tonnes kraft paper and around 140 employees. 

For further information, please contact: 
Ivar Vatne, CFO, +46 8 553 335 07
Lena Schattauer, Head of Investor Relations, +46 8 553 335 10

This information constituted inside information prior to publication. This is information that BillerudKorsnäs AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 10:30 CET on 31 October, 2021.

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Pure Supreme is a well-established premium white-top kraftliner, optimized for offset printing. BillerudKorsnäs is now launching an upgraded version of Pure Supreme, which is more than a facelift – it could even be regarded as a new product.  It offers excellent print results in terms of colour fidelity and lifelike image reproduction. Its strength and stiffness ensure high runnability, allowing for high-speed printing and converting processes.

New Pure Supreme is the latest in a series of new products to come out of BillerudKorsnäs’ KM7, the world’s most modern board machine. The advanced technologies applied in KM7 have made it possible to combine several valuable product properties: printability, strength, stiffness, appearance, consistency, and purity. Like all BillerudKorsnäs products, Pure Supreme is made of 100% pure and strong primary wood fibres, sourced from responsibly managed forests. With the high capacity of KM7 – 550,000 tons/year – global availability is high. 

Typical application for Pure Supreme: strong and sturdy box for good protection and quality print results to align with a premium brand profile.Typical application for Pure Supreme: strong and sturdy box for good protection and quality print results to align with a premium brand profile.

For premium brands with a need for appealing, high-performance packaging, Pure Supreme is a perfect choice – and the advantages are easily explained. The smooth and fully coated surface gives the liner an attractive appearance, exceptional print results, and opportunities for interesting varnishes and foils. Primary wood fibres in a 3-ply structure make Pure Supreme strong and minimize the risk of washboarding. A mid-layer of CTMP and kraft pulp provides bulk, stiffness, and stability to ensure high runnability.

 “The combination of strength and appearance is unique in this product. Normally, a customer has to choose one or the other product property. But with Pure Supreme we can offer both,” says Rolf Gustafsson, Senior Director Product Management Containerboard at BillerudKorsnäs. “And thanks to its strength, Pure Supreme enables great lightweighting possibilities; less packaging weight saves cost and reduces the environmental footprint.”

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billkorlogoBillerudKorsnäs is in a process with the aim of divesting the paper mill in Beetham, UK. The process is ongoing and no binding agreement to divest the mill has yet been entered into. Since BillerudKorsnäs’ machine glazed (MG) paper business has primarily been focused in Skärblacka, the strategic importance of Beetham to the rest of the group has been reduced.

Beetham produces kraft paper for packaging of medical equipment, food packaging and other types of industrial applications and has a capacity of around 45 000 tonnes per year. In 2020, the facility had sales of around SEK 480 million.

For further information, please contact:
Ivar Vatne, CFO, +46 8 553 335 07

Lena Schattauer, Head of Investor Relations, +46 8 553 335 10

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BillerudKorsnäs is introducing two new low grammages of their flagship cartonboard product, CrownBoard Prestige®. Made at KM7, the world’s most modern board machine, the two new low grammages are particularly interesting for the graphical industry.

CrownBoard Prestige® 170 and 200 gsm combine an excellent printing surface with strength and shapeability. The technical properties of the board are due to the capabilities of KM7, including advanced coating technology and state-of-the-art online quality monitoring. Despite the low basis weights, it is a strong board, made of 100% primary wood fibres built up in a 3-ply structure.

Thanks to the strength, it is possible to choose a light grammage to reduce packaging weight. With CrownBoard Prestige®, this can be done without compromising packaging performance. Lightweighting saves cost and reduces environmental impact, because less raw material is used, less energy is needed, less waste is generated, and transport and warehousing requirements are reduced. CrownBoard Prestige® helps customers make a sustainable choice.

Print effect sample of CrownBoard prestige 170 gsm. Despite the low grammage, the board is strong enough to allow for post-print techniques. CMYK offset print, light embossing, and water-based print varnish. Print effect sample of CrownBoard prestige 170 gsm. Despite the low grammage, the board is strong enough to allow for post-print techniques. CMYK offset print, light embossing, and water-based print varnish.

Visual impact

“The low basis weights are a range extension that opens up new possibilities for the graphical industry,” says Anders Gathu, Marketing Manager Cartonboard BillerudKorsnäs. “Eye-catching and strong book covers that also endure more and last longer. Post cards and greeting cards with a surface that gives you vibrant colours and lifelike image reproduction. This is thanks to a smooth, fully coated and high-white surface. It is also well suited for digital printing, an economic option for shorter print runs. Furthermore, the board is engineered to yield great results with printing techniques such as embossing, foil stamping, lamination and effect varnish. This is cartonboard that invites designers to push limits.”

Packaging for premium brands

With the addition of 170 and 200 gsm, the CrownBoard Prestige range comprises ten grammages – from 170 to 400 gsm. CrownBoard Prestige is developed to meet the needs of discerning brands for packaging premium consumer goods such as luxury drinks, confectionery, cosmetics, pharmaceuticals, and the graphical industry. It is chosen for its packaging performance, visual appeal and sustainability credentials.

/box

170 gsm                              

200 gsm

Caliper 205 µm 

Caliper 255 µm

Caliper 8.1 pt 

Caliper 10.0 pt

BillerudKorsnäs provides packaging materials and solutions that challenge conventional packaging for a sustainable future. We are a world-leading provider of primary fibre based packaging materials and have customers in over 100 countries. The company has 8 production units in Sweden, Finland and the UK and about 4500 employees in over 13 countries. BillerudKorsnäs has an annual turnover of about SEK 24 billion and is listed on Nasdaq Stockholm. www.billerudkorsnas.com

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