MIAMISBURG, Ohio (WLUC) – The parent company of two UP paper mills merges with a Swedish pulp and paper manufacturer. BillerudKorsnäs AB will acquire all outstanding shares in Verso Corporation for a purchase price of USD 27 per share or approximately USD 825 million. According to Verso, the transaction is expected to be completed during the second quarter of 2022. The manufacturing company then plans to convert Verso’s largest plant, its Escanaba mill, into a sustainable, fully integrated, world-class cardboard production plant. One machine is estimated to be rebuilt by 2025, a second machine in 2029, with a total capacity of approximately 1,200,000 tonnes. BillerudKorsnäs estimates that the redevelopment project will cost up to 1 billion dollars. The manufacturing company also plans to continue operating the Quinnesec mill.
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