NIB, BillerudKorsnäs Sign Loan for New Board Machine in Gruvön, Sweden

NIB (Nordic Investment Bank) and the Swedish pulp and paper manufacturer BillerudKorsnäs this week signed a seven-year loan agreement of SEK 800 million (EUR 78.5 million) to finance part of the investment in a new board machine at the company’s production site in Gruvön, Sweden.

The new board machine will have an annual production capacity of 550,000 metric tons of liquid packaging board, carton board, food service board, and kraftliners.

The increased production output will allow BillerudKorsnäs to take advantage of growing demand in emerging markets. Further, the investment will open up opportunities for streamlining production and increasing efficiency.

"The investment will support BillerudKorsnäs in meeting its growth targets and strengthen the company’s position in Sweden’s pulp and paper cluster. The forestry sector is an important base industry in the Swedish economy, and it accounts for significant exports and employment," said Henrik Normann, NIB President and CEO.

The new machine is expected to start running in 2019 and to be at full capacity by 2023.

BillerudKorsnäs AB is a Swedish pulp and paper manufacturer that specializes in packaging materials and solutions. The company is headquartered in Solna and is selling its products and services to customers in more than 100 countries. BillerudKorsnäs employs approximately 4,300 people. Its production units are located in Sweden, Finland, and the U.K.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances private and public projects in and outside of the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, contact Lisa-Maria Altenberger, Communications Unit, or +358 10 618 0234.