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16-02-2009 13:45:05

Billerud: Billerud acquires Tenova Bioplastics AB

Relateret indhold

Billerud acquires Tenova Bioplastics AB

Billerud is further strengthening its know how in renewable packaging

through the acquisition of Tenova Bioplastics AB, a Swedish innovation

company based in Norrköping that produces compostable carrier bags made

of bioplastic. Tenova's largest customer is ICA AB. The company has

sales turnover of MSEK 35 and is a market leader in its field in Sweden.

- This acquisition fits well into our long-term strategy. Billerud is a

leader in sustainable packaging solutions made of renewable raw

materials, and we are continually looking for new products and

applications that will develop our business. Bioplastic will be a good

complement to paper for renewable packaging, and in the long term the

combination of paper with barriers made of bioplastic will be a highly

attractive alternative for many different types of packaging. Tenova is

a leader in the rapidly expanding bioplastic field, which provides

Billerud with a platform for the future. The acquisition strengthens our

product offer in the consumer sector, which is less sensitive to the

economic cycle, says Per Lindberg, CEO of Billerud.

At present, bioplastic is primarily made of polylactic acid or starch

mixed with compostable polyesters. The material is biologically

degradable and compostable. If it is burnt it generates less carbon

dioxide over its lifecycle than oil-based plastic. Tenova's products

include carrier bags, waste and compost bags, and can be used as a

barrier in packaging for food and hygiene items, for example. A barrier

made of bioplastic can replace plastic or aluminium barriers in many

applications, resulting in a lower environmental impact.

- Having Billerud as a strong and long-term owner will give us the

stability and global sales organisation that we need to grow. The

company's knowledge and competence in paper and packaging will help us

develop tomorrow's packaging material together, says Magnus Jaeger,

founder and CEO of Tenova.

The purchase sum includes a fixed amount and an option for an additional

amount based on earnings development from 2009 to 2011. Tenova AB will

be consolidated within the Billerud Group as of 1 February 2009 and is

expected to contribute to a small positive effect on earnings per share

in 2009.

Stockholm 16th February 2009

Billerud AB (publ)

Per Lindberg

President and CEO

For further information please contact:

Per Lindberg, president and CEO, +46 8 553 335 01 or +46 70 248 15 17

Bertil Carlsén, CFO, +46 8 553 335 07 or +46 73 021 10 92

Patrik Bosander, Business Manager Sustainable Packaging solutions -

Bioplastics, Billerud AB, +46 8 553 335 26 or + 46 70 213 59 90

Submitted for publication at 13.45 pm on 16th February 2009

The information is such that Billerud is obligated to publish under the

Swedish Securities Exchange and Clearing Operations Act

Billerud is a packaging paper company with a business concept to supply

customers with innovative and high quality packaging paper. A consistent

concentration on attractive market segments and a strong customer focus

are cornerstones of Billerud's strategy. Billerud focuses on kraft paper

and containerboard and has a world-leading position within several

product segments. The company's production units are among the most

cost-efficient in Europe for these products.

------------------------------------------------------------

This information was brought to you by Cision http://www.cisionwire.com

The following files are available for download:

http://wpy.waymaker.net/client/waymaker1/f.aspx?id=1093231&fn=wkr0003.pdf Press release Tenova

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