BillerudKorsnäs Completes Divestment of PM 2 at Gävle
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BillerudKorsnäs, Solna, Sweden, reports that divestment of paper machine PM 2 at the Group's Gävle production unit to SwedPaper AB has been approved by the appropriate competition authorities and the transaction has now been completed. The transaction fulfils the requirement set by the European Commission for approval of the combination between Billerud and Korsnäs. Other operations at the Gävle production unit will not be affected by the sale and will remain unchanged in BillerudKorsnäs' ownership.
Following the divestment, BillerudKorsnäs will, for example, supply input items such as pulp, steam, and water to SwedPaper. BillerudKorsnäs will sell to SwedPaper an annual volume of pulp amounting to a maximum of 66,000 metric tons. Pricing for the pulp will be in line with the market. As of August 1, sales of pulp to PM 2 will be accounted for in the Packaging Paper Business Area. Before the divestment, the operations of PM 2 had been accounted for at BillerudKorsnäs under "other" units.
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