BillerudKorsnas, a provider of packaging materials and solutions, completed the acquisition of Verso, an American owned and operated producer of graphic, specialty and packaging paper and market pulp, for $825m. "The combination of BillerudKorsnäs' expertise in high-quality virgin fiber packaging materials and Verso's attractive assets creates an excellent platform for long-term profitable growth. We will obtain cost-effective production of coated virgin fiber material in the Midwestern United States. We also plan to sequentially transform part of the business into paperboard production while continuing to serve the U.S. customers. Our investments will create new US-based jobs in a growing market and accelerate the transition from plastic-based packaging materials to renewable sources," Christoph Michalski, BillerudKorsnäs President and CEO. On March 11, 2022, Verso's stockholders voted to approve the deal.