Billerud is evaluating significant investments to transform its Escanaba mill into a world-class paperboard production facility and has applied for investment support from the State of Michigan.
The Michigan House of Representatives and Senate has passed legislation approving an appropriation of up to USD 200 million in funding to support Billerud's plans. The legislation must be approved by Michigan's Governor, which is expected to occur within two weeks.
A pre-feasibility study about Billerud's planned conversion of the Escanaba mill to paperboard production is ongoing and planned to be completed during the first half of 2023, after which the company's Board of Directors can make an investment decision.
For further information, please contact:
Ivar Vatne, CFO, +46 8 553 335 07, ivar.vatne@billerud.com
Lena Schattauer, Director Investor Relations, +46 8 553 335 10, lena.schattauer@billerud.com
This information constituted inside information prior to publication. This is information that BillerudKorsnäs AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8:50 CET on 27 January 2022.
