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| assets = €13.00 billion <small>(end 2011)</small><ref name="AR2010" />
| assets = €13.00 billion <small>(end 2011)</small><ref name="AR2010" />
| equity = €5.960 billion <small>(end 2011)</small><ref name="AR2010" />
| equity = €5.960 billion <small>(end 2011)</small><ref name="AR2010" />
| num_employees = 27,380 <small>(end 2010)</small><ref name="AR2010" />
| num_employees = 27,958 <small>(end 2011)</small><ref name="AR2010" />
| homepage = [http://www.storaenso.com/ www.storaenso.com]
| homepage = [http://www.storaenso.com/ www.storaenso.com]
| intl = yes
| intl = yes

Revision as of 11:20, 4 October 2012

Stora Enso Oyj
Company typeJulkinen osakeyhtiö
Nasdaq Helsinki: STERV
OTCQX: SEOAY
IndustryPaper and packaging
PredecessorE. Holtzmann & Cie. Edit this on Wikidata
Founded1998 (1347)
HeadquartersHelsinki, Finland
Key people
Gunnar Brock (Chairman), Jouko Karvinen (President and CEO)
ProductsPublication and fine paper, packaging board, and wood products
Revenue€10.96 billion (2011)[1]
€759,3 million (2011)[2]
€342.2 million (2011)[1]
Total assets€13.00 billion (end 2011)[1]
Total equity€5.960 billion (end 2011)[1]
Number of employees
27,958 (end 2011)[1]
Websitewww.storaenso.com
1/8 share of the Stora Kopparberg mine, dated June 16, 1288.

Stora Enso Oyj is a Finnish pulp and paper manufacturer, formed by the merger of Swedish mining and forestry products company Stora and Finnish forestry products company Enso-Gutzeit Oy in 1998. It is headquartered in Helsinki, and it has approximately 29,000 employees. In 2002 it was the fifth largest pulp and paper manufacturer in terms of revenue and in 2005 it was the world's largest pulp and paper manufacturer in terms of production capacity. Solidium Oy (The Finnish state fund) is the biggest owner in the company. The Wallenberg family through their foundation asset management company FAM is the second biggest shareholder in the company.

History

Stora Enso was formed by the merger of Swedish mining and forestry products company Stora and Finnish forestry products company Enso-Gutzeit Oy in 1998. In line with this, Stora Enso expanded its operations by acquiring wood products businesses and bought paper merchant businesses in Europe. In 2000 the company bought Consolidated Papers in North America. Stora Enso also slowly expanded its operations in South America, Asia and Russia.

In recent years the company has gone through heavy restructuring. The North American operations were divested in 2007 to NewPage Corporation. Stora Enso has sold and closed down some of its mills in Finland, Sweden and Germany.

History of Stora

The Swedish copper mining company Stora Kopparberg ("great copper mountain") in Falun was granted a charter from King Magnus IV of Sweden in 1347, although the first share in the company (granting the Bishop of Västerås 12.5% ownership) dates from 1288. Some claim this to be the oldest existing corporation or limited liability company in the world.[3]

Stora Kopparbergs Bergslags AB was incorporated as a modern shareholder company in 1862. Towards the end of the 19th century, it diversified from copper mining and entered pulp and paper production. In 1984 it shortened its name to Stora AB. The copper mine closed down in 1992. In 1998, it merged with Enso to form Stora Enso.

In 1997, the year before the merger, Stora had 20,400 employees and a turnover of 44.5 billion SEK. The company owned 2.3 million hectares of forest of which 1.6 million hectares (an area larger than Connecticut) in Sweden and the rest in Canada, Portugal and Brazil. It also produced 7.5 TWh of mostly hydroelectric power.

History of Enso

Enso-Gutzeit Headquarters, designed by Alvar Aalto, 1962

Enso-Gutzeit Oy was founded in the 19th century in Norway as W. Gutzeit & Co. by Wilhelm Gutzeit, the half-brother of industrialist Benjamin Wegner. His son Hans Gutzeit moved the company to Finland, where it became the largest forestry company in the country.

Enso-Gutzeit Osakeyhtiö bought A. Ahlström Osakeyhtiö’s forest industries at Varkaus in December 1986. In 1995 a decision was made to merge two state owned forest giants together. The merger materialized next year when Enso-Gutzeit Oy and North Finland based Veitsiluoto Oy formed Enso Oy.

In 2000, the company acquired the U.S. company Consolidated Paper. In the same year, Stora Enso and AssiDomän formed a joint company, Billerud AB, to produce packaging paper.


Kemijärvi

Stora Enso closed Kemijärvi paper plant in 2008. It claimed to become short of raw material which became not the case. At the time Russia increased the tariffs for wood export to promote the foreign pulp and paper mill investments in Russia. This did not happen. Later Russia became a member of WTO which stable the tariffs. There was a group of persons demanding Kemijärvi paper plant to continue. As an alternative Stora Enso supported Arctos Group (Anaika) to continue in the plant buildings. Finnish tax payers had to support Arctos with over €5.4 million. The operation of Arctos ended in January 2012. Minister Jyri Häkämies (conservative) was acquitance with Arctos chairman of the board. Persons deny its influence on the state financial support.[4]

South America

Veracel is a joint venture of Stora Enso and Aracruz in Brazil.

See also

References

  1. ^ a b c d e "Annual Results 2011". Stora Enso. Retrieved 8 February 2011.
  2. ^ Cite error: The named reference AR2011 was invoked but never defined (see the help page).
  3. ^ http://www.bbc.co.uk/news/business-16611040
  4. ^ Valtion rahoittama liimapuutehdas pysähtyi 24.1.2012 B3
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