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 5,800 employees in over 13 countries.
The company was formed in November 2012 through the merger of Billerud AB and Korsnäs AB.[3]
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.[4] 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.[5]
In 2013, Kinnevik sold its shares in BillerudKorsnäs to pension firms AMF, Alecta and the Fourth Swedish National Pension Fund.[6]
In March 2022, BillerudKorsnäs completed its acquisition of the US-based coated paper company, Verso Corporation for $825m in cash.[7] 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".[8]
Production units
Billerud operates nine production units across Sweden, the United States, and Finland, each specializing in various paper and packaging materials.
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 packaging board 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 cartonboard and rolls of paper into sheets.
In Finland
Jakobstad Mill – produces formable paper (FibreForm®), 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.[9]
In 2024, region Europe corresponds to 65% of the group's net sales, while region North America corresponds to 28%.[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-
Ownership structure
The largest shareholders are AMF Pension & Funds with 15.62 percent of the votes and Frapag Beteiligungholding AG with 12.06 percent (as of December 31, 2024).
