Billerud Completes Acquisition of UPM's Packaging Paper Operations
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Billerud Finland Oy's acquisition of UPM's packaging paper operations at Pietarsaari and Tervasaari in Finland is now completed. Billerud Finland Oy is a wholly owned subsidiary of Billerud AB., Sweden. The purchase price is around EUR 130 million.
The acquired operation was consolidated as of June 1, and was included in Billerud's Packaging and Specialty Paper business area.
In the January - June 2012 interim report, sales of the Billerud Group's market pulp will continue to be reported as a separate business area—Market Pulp. As of July 1, market pulp sales will not be reported separately but will be included in the Packaging and Specialty Paper business area.
Financial pro forma information will be published in the January - June 2012 interim report.
In 2011, the acquired operations' sales amounted to approximately EUR 220 million, and EBITDA was approximately EUR 18 million (pro forma).
The transaction is financed through half cash and cash equivalents, half through raising loans within existing credit frameworks. The impact of the acquisition on Billerud's net debt/equity ratio will be +24 percentage points.
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