SOLNA, Sweden--(BUSINESS WIRE)--Regulatory News:
Billerud (STO:BILL) is integrating development work in the field of bioplastics and other future materials. This work has previously taken place in the subsidiary Tenova Bioplastics AB. Billerud acquired Tenova Bioplastics AB in 2009 in order to explore and gain more in-depth knowledge of new possibilities of combining bioplastic with paper in smart packaging. The development division of the company is now being entirely integrated in Billerud.
In connection with this process, the production business currently located in Åby will be transferred to the Norwegian company BioBag International AS. This will mean that Billerud will become a minority owner in the Norwegian company. Billerud will work closely with BioBag on certain development projects.
Billerud – “The Natural Part in Smarter Packaging”. Packaging manufacturers and brand owners are offered added value in the form of brand-strengthening, productivity-boosting and environment-enhancing packaging solutions. Billerud has a world-leading market position within primary fibre-based packaging paper. Billerud has annual sales of around SEK 9 000 million and is listed on NASDAQ OMX Stockholm. www.billerud.com
The information is such that Billerud AB is obligated to publish under the Swedish Securities Market Act. Submitted for publication at 2 pm CET, 1 December 2011.
This information was brought to you by Cision http://www.cisionwire.com