Billerud to acquire UPM-Kymmene’s packaging paper business

2/1/2012 2:40 AM EST
Billerud Finland Oy, a wholly-owned subsidiary of Billerud AB, has signed an agreement with UPM-Kymmene (UPM) to acquire UPM’s packaging paper business in Pietarsaari and Tervasaari with sales of approximately EUR 220 million (SEK 2 billion) in 2011. Billerud pays EUR 130 million (approximately SEK 1.2 billion) for the business. The acquisition will significantly reduce Billerud’s pulp exposure and strengthen the offering within packaging paper. In addition, the currency exposure is also reduced.
”We see great potential in the acquired business as it will now be integrated in a business focused on packaging paper. The acquisition will give us a strong platform to continue developing our offering within smarter packaging solutions. In addition, the acquisition significantly reduces our pulp exposure and adds a much larger Euro cost base, which we view positively.” says Per Lindberg, President and CEO of Billerud.

The acquisition includes one paper machine in Pietarsaari and one...
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