BillerudKorsnäs repurchases own shares

BillerudKorsnäs, a leading manufacturers of packaging paper, informed that the company’s Board had decided on repurchase of shares. According to the announcement, the authorization for the repurchase  was granted by the Annual General Meeting on May 10, 2017. As of September 11, 2017 had 948,476 own shares in treasury.

Repurchases may take place on one or more occasions during the period from September 12, 2017 until the next Annual General Meeting, up to a maximum amount of 314,690 shares. Repurchases shall be made on Nasdaq Stockholm at a price per share that is within the registered interval at any given time, i.e. the interval between the highest buying price and lowest selling price. Payment for the shares shall be made in cash.

In 2Q2017 BillerudKorsnäs decreased EBITDA margin to 15.4%

Earlier BillerudKorsnäs planed to fully restore production at its Karlsborg production unit in Sweden during the week of September 18, 2017.

About BillerudKorsnäs:

The company is one of the leading manufacturers of packaging paper made from virgin fibers. It is headquartered in Solna, Sweden and emerged in 2012 from the merger of Billerud and Korsnäs and Voith Paper is a division of the Voith Group.

Source: Woodbizforum