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 6,100 employees in over 13 countries.

Billerud AB

Company type	Publicly traded Aktiebolag
Traded as	Nasdaq Stockholm: BILL^[1]
Industry	Paper and forest products
Founded	29 November 2012
Headquarters	Solna, Sweden
Key people	Jan Svensson(Chairman) Ivar Vatne(CEO)
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
Total assets	SEK 47.926 billion
Total equity	SEK 26.945 billion
Number of employees	≈6 100 - 2023^[3]
Website	www.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.

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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, liquid packaging board and pulp.
Skärblacka Mill – produces white machine glazed kraft paper, brown sack paper, fluting and pulp.
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, and pulp.
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.

Regions and segments

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]

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-

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).