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 | |
| Type: | Publicly traded Aktiebolag |
| Traded As: | [1] |
| Foundation: | 29 November 2012 |
| Location: | Solna, Sweden |
| Key People: | Jan Svensson(Chairman) Ivar Vatne(CEO) |
| Industry: | Paper and forest products |
| Products: | Liquid packaging board, Containerboard, Cartonboard, Formable paper, Fluting and liner, Kraft paper, Sack paper, Graphic paper, Speciality paper |
| Revenue: | SEK 41.224 billion[2] |
| Operating Income: | SEK 0.534 billion |
| Assets: | SEK 47.926 billion |
| Equity: | SEK 26.945 billion |
| Num Employees: | ≈6 100 - 2023[3] |
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.
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]
Billerud's organization is structured through the regions Europe and North America.[10]
In 2023, region Europe corresponds to 66% of the group's net sales, while region North America corresponds to 28%.[11]
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).