With the acquisition of Verso, BillerudKorsnäs is strengthening its technique to realize profitability and sustainable development, and boosting its presence in North America.
April 11, 2022
Sweden-based BillerudKorsnäs has accomplished the acquisition of Verso Corporation for about USD 825 million in a money deal. Ohio, USA-based Verso Corporation is a number one producer of coated papers, together with – coated groundwood, coated freesheet, supercalendered, and specialty merchandise.
The acquisition of Verso represents the strengthening of BillerudKorsnäs’ technique to realize profitability and sustainable development and is consistent with its aim to spice up its development in North America. Due to this acquisition, BillerudKorsnäs will now be one of the largest suppliers of virgin paper and packaging supplies.
The Swedish firm is dedicated to persevering with to serve the US-based producer’s clients in all the segments. It may also work on its plans to transition a number of of Verso’s property into paperboard machines whereas sustaining the latter’s place as a high quality and value chief in speciality & coated paper.
Speaking about the acquisition, Mr. Christoph Michalski, President & CEO, BillerudKorsnäs, remarks, “Our mixed property and experience in high-quality virgin fiber paper and board packaging supplies create a wonderful platform for sustainable and worthwhile development. Integration work begins instantly, and we sit up for working collectively, sharing information, initiating preparations for the conversion mission, and realising a profitable growth.”
Mr. Rob Kreizenbeck, Verso’s SVP of Operations, will now maintain the place of President, North America in BillerudKorsnäs’ Executive Management Team, efficient April 1, 2022. Going ahead, BillerudKorsnäs intends to shorten its firm title and model to – Billerud.
“We are excited to affix forces with BillerudKorsnäs and turn into a bigger, stronger organisation. Together, we’re constructing an organization that’s passionately dedicated to robust security tradition, sustainability, superior high quality, and delivering worth to our clients,” says Mr. Rob Kreizenbeck.
The mixed firm operates 10 manufacturing amenities in areas together with – Sweden, U.S., and Finland with round 5,800 staff in additional than 13 international locations and serving clients in over 100 international locations.