Billerud Finland's Acquistion of UPM Packaging Paper Mills in Finland Approved
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Billerud Finland Oy, Solna Finland, reports that regulatory authorities have approved its acquisition of UPM's packaging paper operations at Pietarsaari and Tervasaari in Finland. Billerud Finland Oy is a wholly owned subsidiary of Billerud AB. The purchase price is around EUR 130 million.
The transaction involves Billerud taking over one paper machine at Pietarsaari and one at Tervasaari. In 2011, sales amounted to around EUR 220 million (SEK 2 billion). Manufactured products are various packaging papers (sack/kraft paper) with extensive areas of use in the food, retail, construction, and other industries.
Completion of the acquisition is expected to take place during the second quarter.
"This acquisition strengthens our offering in packaging paper and provides us with a strong platform for the further development of smarter packaging solutions. Also, the acquisition sharply reduces our pulp exposure as we will purchase an annual pulp volume corresponding to around 85% of Billerud's current pulp sales volume. We also reduce our currency exposure," Per Lindberg, president and CEO of Billerud, said.
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