Verso Corporation (NYSE: VRS) (“Verso”) today announced it has received necessary approvals from the Nuclear Regulatory Commission and the Public Service Commission of Wisconsin to complete its previously announced merger with BillerudKorsnäs AB (“BillerudKorsnäs”). Verso has now received all regulatory approvals necessary to complete the merger.
The transaction is expected to close on March 31, 2022.
https://investor.versoco.com/2022-03-29-Verso-Receives-All-Regulatory-Approvals-Necessary-to-Proceed-with-Closing-of-Merger-with-BillerudKorsnas-AB
Related Posts
Sappi Europe recently announced that it has now joined Intergraf’s group of 22 national member associations and 15 associate members across 25 countries, which will further its role in promoting the European print industry. In the evolving print industry, Sappi strongly believes in the role of print for the next generation of readers, and for brands. People are hardwired to hold print—72% of people prefer printed material versus a digital version. It is viewed as 200% more intimate—people feel more valued when receiving printed mail over e-mail, and twice as likely to feel positive toward the sender. The return on investment speaks volumes—60% of people look up a brand online after receiving printed materials. With declining print volumes, Sappi acknowledges that the paper industry must provide value beyond the product by aligning with projects and organisations that further the unique strengths of the European printing industry.
The more challenging macroeconomic scenario and market pulp fundamentals pressured the revenues during the quarter. The decline in pulp prices and sales volumes in relation to the previous quarter resulted in lower adjusted EBITDA from the segment compared to 4Q22. The paper business unit registered EBITDA per ton growth, driven by better prices despite lower sales volume associated with a strategy to recompose inventories. Consequently, adjusted EBITDA in the quarter came to R$6.2 billion, down 25% from 4Q22, and 20% higher than in 1Q22.
Label and Graphic Materials *Reported sales increased 12% to $1.5 billion. Sales were up 20% ex. currency and 20% on an organic basis.*Reported operating margin increased 60 basis points to 14.3%. *Inflation continues to be significant in the company’s materials businesses, with it now anticipating more than 20% inflation in 2022 compared to prior year. Retail Branding and Information Solutions *Reported sales increased 17% to $623 million. Sales were up 22% ex. currency and 7% on an organic basis. *Reported operating margin increased 120 basis points to 12.2%. Industrial and Healthcare Materials *Reported sales decreased 2% to $192 million, up 5% on an organic basis. *Reported operating margin increased 100 basis points to 10.6%.