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Billerud Korsnäs divests British Beetham mill

Businessmen shaking hands
Billerud Korsnäs has found a buyer for the Beetham mill
02 Nov 2021 − 

Swedish forestry group Billerud Korsnäs has agreed to sell its Beetham mill in the UK to British investment company Inspirit.

The transaction was completed on 31 October. The purchase price corresponds to an equity value of around SEK30m (~€3m), according to a statement by Billerud Korsnäs. The transaction results in a capital loss of around SEK120m (~€12m) that will have a negative impact on Billerud Korsnäs’ 2021 fourth quarter results, the company expects.

The Beetham mill, acquired by Billerud in 2004, has a capacity to produce up to 45,000 t of kraft paper for medical equipment, food packaging and industrial applications. The mill has 140 employees and generated net sales of around SEK480m and an operating profit of around SEK13m in the last 12 months.

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