Stora Enso Oyj History

Kanavaranta One
P.O. Box 309
FIN-00101 Helsinki

Telephone: (20) 46 131
Fax: (20) 46 21471

Public Company
Incorporated: 1896 as Aktiebolaget W. Gutzeit & Co.
Employees: 40,226
Sales: EUR 10.64 billion (US$11.33 billion) (1999)
Stock Exchanges: Helsinki Stockholm
NAIC: 113110 Timber Tract Operations; 113310 Logging; 115310 Support Activities for Forestry; 321113 Sawmills; 322110 Pulp Mills; 322121 Paper (Except Newsprint) Mills; 322122 Newsprint Mills; 322130 Paperboard Mills; 322211 Corrugated and Solid Fiber Box Manufacturing; 322222 Coated and Laminated Paper Manufacturing; 422110 Printing and Writing Paper Wholesalers

Company Perspectives:

Mission: To promote communication and the well-being of people by turning renewable fiber into paper, packaging, and processed wood products. Key Dates:

Key Dates:

First documentary evidence of mining at the copper mountain near Falun, Sweden.
King Magnus Eriksson of Sweden grants a royal charter, bestowing a series of privileges on the mine.
Annual copper production hits peaks of 3,000 tons.
Second of two giant cave-ins marks the beginning of a gradual decline in mine output.

Mid-18th century:Production of Falun red paint commences.

Early 19th century:Stora begins producing pig iron and bar iron, and later moves into forest products.
Mining, iron, and wood activities are combined within a single company, Stora Kopparbergs Bergslag.
Norway-based W. Gutzeit & Co. erects the first steam-powered sawmill in Finland, on the island of Kotka.
Stora acquires a sawmill at Skutskär.
Stora Kopparbergs Bergslag becomes a limited share company; Enso Träsliperi Aktiebolaget is born through the building of the first groundwood mill on the Vuoksi River.
W. Gutzeit & Co. is reincorporated in Finland as Aktiebolaget W. Gutzeit & Co.
A paper mill for newsprint is established by Stora at Kvarnsveden.

Early 20th century:Stora builds hydroelectric stations to power its plants.
Enso adds a paper machine to its mill.
Gutzeit acquires Aktiebolaget Pankakoski and its groundwood mill.
Enso builds large hydroelectric power station on the Vuoksi River.
Gutzeit acquires the financially troubled Enso.
Stora becomes part of the Wallenberg empire with the appointment of Marcus Wallenberg, Sr., as chairman.
The Finnish government becomes majority shareholder in Gutzeit.
Gutzeit is renamed Enso-Gutzeit Osakeyhtiö.
Enso-Gutzeit acquires Tornator Osakeyhtiö.

1939-40:Enso-Gutzeit suffers heavy damage in Soviet attacks on Finland; 1940 territorial concessions lead to loss of significant facilities and forestland.
Stora begins overseas expansion with the building of a pulp mill in Nova Scotia, Canada.
Enso-Gutzeit begins international expansion.
Stora begins focusing on forest products through divestment of specialty steel unit.
Stora's commercial steel operations are divested.
Purchase of Billerud makes Stora the largest forestry company in Europe.
Enso-Gutzeit acquires Varkaus; Stora acquires Papyrus.
Stora acquires Swedish Match.
Stora acquires Feldmühle Nobel, based in Germany.
Mining operations in Falun come to an end.
Enso-Gutzeit acquires Veitsiluoto; E-G adopts new name, Enso Oyj.
Enso acquires majority control of the German firm E. Holtzmann & Cie AG.
Stora purchases majority control of a Chinese fine paper mill, Suzhou Papyrus Paper; Stora and Enso merge to form Stora Enso Oyj.
Stora Enso announces that it will acquire Consolidated Papers, Inc. of the United States.

Company History:

Further Reading:

  • Baxter, Andrew, 'Enso Hopes London Listing Will Draw Foreign Investors,' Financial Times, June 20, 1989, p. 33.
  • Carnegy, Hugh, 'Paper Profits Clear Space for Restructuring: Enso-Veitsiluoto Merger Highlights Concentration of Finnish Industry,' Financial Times, June 7, 1995, p. 32.
  • 'Four Major Mergers: Two Trans-Atlantic Blockbusters,' Pulp and Paper, April 2000, pp. 13-15.
  • Hallvarsson, Mats, 'The Jewel of the Kingdom,' in Sweden Works: Industry in Transition, Stockholm, New Sweden 1988 Committee, 1987.
  • Hoving, Victor, Enso-Gutzeit Osakeyhtiö, 1872-1958, Helsinki: Frenckhellin Kijapaino Osakeyhtiö, 1961.
  • Jewitt, Caroline, 'Stora Enso Sets Off on a Global Crusade,' Pulp and Paper International, June 2000, pp. 29-31.
  • Karonen, Petri, Enso-Gutzeit Oy laivanvarustajana: Oy Finnlines Ltd ja Merivienti Oy vuosina, 1947-1982, Imatra: Enso-Gutzeit, 1992, 240 p.
  • Kenny, Jim, 'Stora Enso Aims for a Smooth Transition,' Pulp and Paper International, June 1999, pp. 20-21, 25.
  • Korpijaakko, O., 'Gutzeit-yhtmän vaiheet 1872-1947,' Enso-Cutzeit Personnel Magazine, 75th Anniversary Issue, 1947.
  • Kylmala, Timo, Kutsetin Mies, Helsinki: Kirjayhtyma, 1986.
  • Latour, Almar, 'Paper Firms Join in Europe, Creating Giant,' Wall Street Journal, June 3, 1998, p. A11.
  • McIvor, Greg, 'Big Is Beautiful, but Not Automatically,' Financial Times, June 18, 1998.
  • McIvor, Greg, and Tim Burt, 'Paper Giants Open a New Chapter: The Stora-Enso Merger Could Be the First of Many,' Financial Times, June 3, 1998, p. 26.
  • Moore, Stephen D., 'Scandinavian Paper Firms Wrestle with Price Declines,' Wall Street Journal, September 5, 1996, p. B8.
  • Rydberg, Sven, En man föör sig: Emil Lundqvist och Stora Kopparberg under mellankrigstiden, Stockholm: Atlantis, 1985, 154 p.
  • ------, The Great Copper Mountain: The Stora Story, Falun, Sweden: Stora Kopparbergs Bergslags AB, 1988, 244 p.
  • ------, Stora Kopparberg: 1,000 Years of an Industrial Activity, Stockholm: Gullers International, 1979, 93 p.
  • Salonen, O., 'Piirteita Parviaisen Tehtaiden synnysta ja kehityksesta,' Enso-Gutzeit Personnel Magazine, 75th Anniversary Issue, 1947.
  • Starkman, Dean, 'Stora Enso to Buy Consolidated Papers,' Wall Street Journal, February 23, 2000, p. A3.
  • 'Stora's Homespun Remedies Go Against the Industry Grain,' Financial Times, March 17, 1998, p. 36.
  • Sullivan, Aline, 'Stora's Story: A Company As Old As the Millennium Puts on a New Face,' International Herald Tribune, November 27, 1999, p. 17.
  • Taylor, Robert, 'Stora Builds Its Muscle in the Community,' Financial Times, April 30, 1990, p. 27.
  • Urry, Maggie, 'Stora Stays with Go-Ahead Strategy After 700 Years,' Financial Times, June 16, 1988, p. 32.
  • Verespej, Michael A., 'Who Owns Whose Trees?,' Industry Week, March 20, 2000, pp. 58+.
  • Wyman, Vic, 'Enso Powers into Newsprint in Eastern Germany,' Pulp and Paper International, December 1994, p. 28.

Source: International Directory of Company Histories, Vol. 36. St. James Press, 2001.