|Traded as||OMX: STERV
|Industry||Paper and packaging|
|Key people||Gunnar Brock (Chairman), Jouko Karvinen (President and CEO)|
|Products||Publication and fine paper, packaging board, and wood products|
|Revenue||€10.96 billion (2011)|
|Operating income||€759,3 million (2011)|
|Profit||€342.2 million (2011)|
|Total assets||€13.00 billion (end 2011)|
|Total equity||€5.960 billion (end 2011)|
|Employees||27,958 (end 2011)|
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. Following the merger, English became the lingua franca of the company, with implications for the effectivenes of internal business communications. 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.
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.
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 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 September 2012, Stora Enso signed an agreement with Packages Ltd., the largest packaging company of Pakistan, to set up a joint venture named Bulleh Shah Packaging (Pvt.) Ltd. at Kasur, Pakistan.
Consolidated Paper 
In 2000, StoraEnso acquired the North American pulp & paper manufacturer Consolidated Paper for an enterprise value of roughly EUR 4.9 billion.  The acquisition has, in hindsight, been noted in the financial press as a massive value destroyer. A post mortem report on the acquisition was published in 2010. 
In 2008 Stora Enso expected a shortage of raw material as a result of Russia increasing export tariffs in order to promote foreign mill investments, and in response closed the Kemijärvi paper plant. In the event, however, Russia became a member of the WTO, and the tariff increase was reversed. A campaign resisted closure of the Kemijärvi paper plant, and Stora Enso agreed that Arctos Group (Anaika) would take the operation on as a going concern, with €5.4 million of support from Finnish tax payers. Arctos ceased operations there in January 2012. Minister Jyri Häkämies (conservative) was acquittance with Arctos chairman of the board. Persons deny its influence on the state financial support.[clarification needed]
South America 
Accusations of wrongful accounting 
The North American part of the group was sold in 2007 to NewPage Corporation with a net loss of about 4.12 billion dollars. To cover the loss, it has been accused by some that the accounting was manipulated, which was revealed in 2010. 
See also 
- Great Copper Mountain
- Enso (town)
- List of Finnish companies
- List of oldest companies
- Svenska Cellulosa Aktiebolaget
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