|Nasdaq Helsinki: STEAV, STERV|
Nasdaq Stockholm: STE A, STE R
|Industry||Paper and packaging|
|Predecessor||E. Holtzmann & Cie.|
|Antti Mäkinen(Chair of the board), Annica Bresky(CEO)|
|Products||Packaging materials, biomaterials, wooden construction and paper|
|Revenue||€ 10.164 billion (2021)|
|€1.568 million (2021)|
|€1.268 million (2021)|
|Total assets||€19.026 million (2021)|
|Total equity||€10.666 million (2021)|
|Owners||Solidium, FAM AB and others|
Number of employees
|22,094 (December 2021)|
Stora Enso Oyj (from Swedish: Stora [ˈstǔːra] and Finnish: Enso [ˈenso]) is a manufacturer of pulp, paper and other forest products, headquartered in Helsinki, Finland. The majority of sales takes place in Europe, but there are also significant operations in Asia and South America. Stora Enso was formed in 1998, when the Swedish mining and forestry products company Stora AB merged with the Finnish forestry products company Enso Oyj. In 2021, the average number of employees was over 23,000. In 2015, Stora Enso was ranked seventh in the world by sales and fourth by earnings, among forest, paper and packaging industry companies. For the first two quarters of 2018, the company was ranked second by net earnings among European forest and paper industry companies. The corporate history can be traced back to the oldest known preserved share certificate in the world, issued in 1288. Based on this, some observers consider Stora Enso to be the oldest limited liability company in the world.
Stora Enso was formed by the merger of Swedish mining and forestry products company Stora and Finnish forestry products company Enso Oyj in 1998.
History of Stora
The oldest preserved share in the Swedish copper mining company Stora Kopparberg (Falun Mine) in Falun was issued in 1288. It granted the Bishop of Västerås 12.5 per cent ownership, and it is also the oldest known preserved share in any company in the world. The corporate status of the company was further recognized in 1347, when King Magnus IV of Sweden granted it a charter. Some observers consider that these facts make Stora and its successor Stora Enso the oldest existing corporation or limited liability company in the world.
For some periods during the 17th century, the mine provided two thirds of the world production of copper. In the 18th century, the copper mining gradually decreased in importance, and therefore, in 1731, the company bought its first iron ore mine. By the 1860s, iron ore was economically more important to the company than copper.
Stora Kopparbergs Bergslags AB was incorporated as a modern shareholder company in 1862. Towards the end of the 19th century, it diversified from mining and entered pulp and paper production. In the 1970s, most of the mining and steel mill operations of the company were divested, and the focus changed to forestry-related activities. In 1984, the company name was shortened to Stora AB. The copper mine closed down in 1992.
In 1997, the year before the merger with Enso, 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.
In 1998, the company merged with Enso to form Stora Enso.
History of Enso
The roots of Enso go back to 1850's, when Wilhelm Gutzeit started Wilh. Gutzeit & Co. in Norway. He was a native of Königsberg who had moved to Norway to work as a secretary for his step-cousin Benjamin Wegner, an industrialist. Only one of Gutzeit's five children survived to adulthood and thus his son Hans Gutzeit started to work with him in the 1860's and inherited the company in 1869. In 1871 he started to operate in Finland, together with Lars J. Bredesen, who was from Norway too. Gutzeit started a sawmill in Kotka in November 1872 and called it W. Gutzeit & Comp. In 1897 the company became a Finnish company, and its name was changed to Aktiebolaget W. Gutzeit & Co.
As Gutzeit & Co bought Aktiebolaget Pankakoski in 1908 and Enso Träsliperi Ab in Jääski in 1911, the board production was added to company portfolio.
In 1918 the company shares were bought by Finland which became independent in 1917, and Gutzeit became fully state owned company.
The company started to build Kaukopää mill in Imatra in 1935. At the time it was the biggest sulfate pulp mill in Europe.
Summa paper mill in Hamina was taken into use in 1955.
The company's name was changed to Enso-Gutzeit Oy in 1981.
In 1996 two state owned forest companies were merged and Enso-Gutzeit Oy and Veitsiluoto Oy from North Finland became Enso Oyj.
In 1998, the company merged with Stora to form Stora Enso.
History of Stora Enso
After the merger, 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 2000, Stora Enso acquired the North American pulp and paper manufacturer Consolidated Papers for EUR 4.9 billion. The acquisition has, in hindsight, been noted in the financial press as a massive value destroyer. In the same year, Stora Enso and AssiDomän formed a joint company, Billerud AB, to produce packaging paper.
In recent years[when?] 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. The closure of a plant in Kemijärvi in 2008 and subsequent events were subject to significant Finnish media coverage.
In 2010, Stora Enso acquired a 30 per cent stake in the Chinese printed paper packaging manufacturer Inpac.
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. The ownership stake for Stora Enso was 35 per cent. In 2017, the stake was sold back to Packages Ltd., at a loss of EUR 19 million.
Between 2006 and 2014, the share of paper products of the total sales decreased from 62 per cent to 38 per cent, while packaging and wood products increased their shares of the revenue, as the company, according to Bloomberg News, was "betting on renewable packaging as online shopping grows." In 2015, the Financial Times and Bloomberg News reported that Stora Enso was investing in biomaterials and renewable construction products as possible future growth areas.
By 2016 Stora Enso owned 90 per cent of Inpac.
In July 2017, the Financial Times reiterated that a focus on renewable packaging, biomaterials and construction products formed part of the strategic direction of Stora Enso, while also reporting that the revenue from paper had decreased further to 30 per cent of the total sales. It also reported that the current and foreseeable market conditions were such that forestry industry companies in general received and could be expected to receive comparatively low shares of their profits from paper production.
In 2018, Stora Enso, along with 23 other Finnish and Swedish companies, formed a joint venture named Combient for research and knowledge sharing in the areas of artificial intelligence, deep learning, big data and automation.
Examples of notable products launched in 2017–2019 were
- cardboard-based packaging under the name EcoFishBox as an alternative to polystyrene boxes for transportation of fresh fish,
- industrial-scale supply of lignin under the name Lineo as an alternative to phenol-based adhesives,
- prototypes of biodegradable drinking straws, DuraSense biocomposites which enable the use of renewable wood-based fibres which can be used as substitutes for fossil-based plastic, and
- a new retail solution which merges in-store and online shopping through RFID-enabled e-kiosks. The service is offered in co-operation with Atos.
In the beginning of 2020 Stora Enso started a new division called Forest. It included
- Stora Enso's forest assets in Sweden
- the 41% share of Tornator with the majority of its forest assets located in Finland
- wood supply operations in Finland, Sweden, Russia and the Baltic countries.
In March 2022, Stora Enso announced its intention to sell four paper mills located in Anjala in Finland, Hylte and Nymölla in Sweden and Maxau in Germany. If no buyer could be found, the company would continue to run the mills.
Products and services by division
In 2021, Stora Enso offer products and services through six corporate divisions.
- The Biomaterials division sells pulp, as well as additional products that can be extracted biochemically from wood and other sorts of biomass.
- The Packaging materials division sells varieties of paperboard for packaging of dry and liquid products, including food, as well as for graphic printing purposes.
- The Forest division has wood supply operations in Finland, Sweden, Russia and the Baltic countries.
- The Packaging solutions division sells corrugated fiberboard, other types of paperboard used in production of packaging containers, as well as complete packaging boxes and equipment and services related to packaging production.
- The Paper division sells paper for commercial printing and office use, as well as services for the printing industry, such as paper supply management.
- The Wood products division sells construction materials that have been produced using wood as a raw material.
In 2021 the sales figures and relative contributions to group earnings by divisions were:
|Sales by division 2021, million EUR||External||Internal||Total|
Stora Enso has the majority of its operations in Europe. In 2021
- 26 % of the personnel worked in Finland,
- 22 % in Sweden,
- 13 % in China,
- 9 % in Poland,
- 5% in Czech Republic,
- 5 % in Russia and
- 4 % in Austria.
- 13% of the employees worked in other European countries (for example in Baltic states, Belgium, France, Germany and Spain), 3% in Brazil and Uruguay, and 1% in other countries.
The first Stora Enso HQ in Helsinki was designed by Alvar Aalto as the head office of Enso-Gutzeit Oy. The building was taken into use in 1961. In 2008, Stora Enso sold the building to the German property company Deka Immobilien GmbH for €30 million and started renting the building, while also declaring its intention to move to other rented premises in the Helsinki area.
In December 2021, it was announced that the construction of Stora Enso's new headquarters in Katajanokka had started. Other office space and a hotel were also planned for the building, which is owned by the occupational pension company Varma. The building was due to be completed in spring 2024. Stora Enso moved to a temporary headquarters in a property owned by Varma in Salmisaari.
Since 1 December 2019, Annica Bresky has been the CEO of Stora Enso.
Previous CEOs were
- Karl-Henrik Sundström (from 2014 to 2019)
- Jouko Karvinen (from 2007 to 2014) and
- Jukka Härmälä (from the creation of Stora Enso in 1998 to 2007).
The board of directors in 2022: Antti Mäkinen (chair of board), Håkan Buskhe (vice chair of the board), Elisabeth Fleuriot, Hock Goh, Helena Hedblom, Kari Jordan, Christiane Kuehne, Richard Nilsson, and Hans Sohlström.
In December 2021, the Finnish state was, through the state-owned Solidium fund and Social Insurance Institution of Finland), the largest owner by number of shares, while the Wallenberg family foundations, through FAM AB, was the second largest. These two owners were also the largest ones by number of votes.
The five biggest owners on 31 Dec 2021 were:
- Solidium Oy
- FAM AB
- Social Insurance Institution of Finland (KELA)
- Ilmarinen Mutual Pension Insurance Company
- Varma Mutual Pension Insurance Company
Following the merger, English became the lingua franca of the company. A study of the implications of this for the effectiveness of Stora Enso's internal business communication, published in the academic journal Business Communication Quarterly, concluded that the analyzed communication "seemed to work well".
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.[clarification needed] According to a Swedish television documentary, there have been accusations that to cover the loss, the accounting was manipulated, which was revealed in 2010.[clarification needed] The documentary also claims that huge[vague] dividend payments were made illegally and top management was aware of that fact and on purpose manipulated numbers to be able to pay dividends.
Gerard Goodwyn, the company's head of accounting who spoke publicly about the accounting mistake, was fired in 2010.
In 2013, Stora Enso published a report written by independent law firms, which the company had commissioned to investigate the accusations. According to the report, the investigations performed did not find any evidence of illegal acts or wrongful financial reporting, apart from mistakes that had already been communicated and corrected by 2009. The findings of the investigations were also been reported to the Finnish Financial Supervisory Authority, which found no reason to take further action. In articles commenting on the report, the Finnish newspaper Helsingin Sanomat stated that they had been contacted by the source of the accusations in 2010 but that, after attempting to confirm the accusations, they had not considered that there were sufficient grounds for a news story.
Nova Scotia Forest Industries, the Canadian corporate identity of Stora Forest Industries (as it was known in the day) in 1983 was pursued in the Nova Scotia Supreme Court—case name Palmer v Nova Scotia Forest Industries—and did emerge victorious. The case went on to influence the practice of Canadian environmental law. What neighbours objected to was the spraying of the dioxin 2,4,5-Trichlorophenoxyacetic acid Agent Orange pesticide.
Human rights concerns
The Swedish program Kalla fakta reported in 2014 that Stora Enso used child labor in its activities in Pakistan, and that the company had been aware of it since 2012. In response, the company denied that child labor existed directly in the operations of its joint venture partner in Pakistan, but admitted that it was present in its supplier networks. It stated that its partner, Bulleh Shah Packaging, was taking short-term action to remedy the situation in areas where child labor was known to exist, and was also working to mitigate child labor in the long term by addressing its root causes. In 2017, Stora Enso divested its business interest in Pakistan.
In 2019, at least 32 people got infected and two people died due to legionnaires' disease after being infected by steam coming from a Legionella pneumophila contaminated cooling tower of the Stora Enso factory located in Ghent, Belgium. The cooling tower had an aerobic count of over 1,000,000, about ten times the urgent action limit of 100,000 micro-organisms per mL at 30 °C
In April 2015, Stora Enso entered into a partnership with ILO, with the aims of progressively eliminating child labor from the supply chain in Pakistan and promoting decent work conditions. The experiences in Pakistan prompted Stora Enso to appoint an executive vice president for sustainability to its group leadership team, and to include sustainability managers in its division leadership teams.
Stora Enso was the main sponsor of the FIS Nordic World Ski Championships 2017 in Lahti. The company provided the games with items made of renewable materials, including two spectator shelters built from cross laminated timber elements, which were subsequently donated to the host city.
- William Lehtinen, Enso-Gutzeit's post-war rebuilder and CEO
- Great Copper Mountain
- Enso (town)
- List of Finnish companies
- List of oldest companies
- Svenska Cellulosa Aktiebolaget
- "Instructions for insiders". www.storaenso.com. Retrieved 2022-03-23.
- Groom, Brian (10 November 2015). "Founders' vision keeps engine running". Financial Times. Archived from the original on 26 June 2016. Retrieved 16 November 2015.
- "Board of directors". www.storaenso.com. Retrieved 2022-03-23.
- "Group Leadership Team". www.storaenso.com. Archived from the original on 2020-02-18. Retrieved 2020-02-18.
- "Stora Enso Annual Report 2021, pages 6, 9, 58, 59, 67, 68, 71" (PDF). Retrieved 23 March 2022.
- "Shareholders and ownership changes". www.storaenso.com. Retrieved 2022-03-23.
- "History". Stora Enso. Archived from the original on 21 June 2017. Retrieved 9 August 2017.
- "Global Forest, Paper & Packaging Industry Survey: 2016 edition survey of 2015 results" (PDF). PwC. 2016. Archived (PDF) from the original on 23 September 2017. Retrieved 10 December 2018.
- Bromley, Kevin; Bouchard, Frédéric (2018). "Global Forest and Paper Industry Net Earnings Summary: Three months ended June 30, 2018" (PDF). PwC. Archived (PDF) from the original on 14 December 2018. Retrieved 10 December 2018.
- "Can a company live forever?". BBC News. January 19, 2012. Archived from the original on October 7, 2018. Retrieved June 20, 2018.
- de Geus, Arie (1997). "The Living Company". Harvard Business Review. 75 (March–April): 51–9. PMID 10165449. Archived from the original on 11 December 2015. Retrieved 16 November 2015.
- Ahvenainen, Jorma (1992). Enso-Gutzeit Oy, 1872–1992, part 1, 1872–1923 (in Finnish). Jyväskylä: Gummerus Kirjapaino Oy. pp. 1, 13, 16, 19, 23, 129, 198, 201, 229. ISBN 952-9690-01-0.
- Ahvenainen, Jorma (1992). Enso-Gutzeit Oy, 1872–1992, part 2, 1924–1992 (in Finnish). Jyväskylä: Gummerus Kirjapaino Oy. pp. 294, 317, 332, 481. ISBN 952-9690-02-9.
- "Varkauden paperitehtaan kohtalo hämmentää". Yle Uutiset (in Finnish). 2009-07-24. Retrieved 2022-04-22.
- Pentti, Laitinen (1993-10-28). "Myös Enso-Gutzeit pääsi selvästi voitolle Yhtyneille täpärä voitto metsäyhtiöiden katekilvassa". Helsingin Sanomat (in Finnish). Retrieved 2022-04-21.
- "Toni Mathlinin lapsuudessa "kaikki" työskentelivät Veitsiluodossa, tänään valmistui viimeinen rulla ja paperitehdas Kemissä suljetaan". Yle Uutiset (in Finnish). 2021-09-29. Retrieved 2022-04-21.
- Päivi, Isotalus (1997-04-29). "Enson Holtzmann-kauppa toteutuu 3,6 miljardilla Yhtiö halusi päällystämättömän aikakauslehtipaperin valikoimaansa". Helsingin Sanomat (in Finnish). Retrieved 2022-04-22.
- "EU:n komissio hyväksymässä Storan ja Enson liiton". Yle Uutiset (in Finnish). 1998-11-19. Retrieved 2022-04-21.
- "Stora Enso to acquire Consolidated Papers for EUR 4.9 billion" (PDF). Bit. Stora Enso. 22 February 2000. Archived (PDF) from the original on 1 May 2004.
- "The assumptions behind an acquisition: Case Stora Enso - Consolidated Papers" (PDF). Aalto University. 2010. Archived (PDF) from the original on 11 December 2015. Retrieved 16 November 2015.
- "A study reviews the reasons for the failure of the American merger of Stora Enso" (PDF). Aalto University. 14 July 2010. Archived from the original on 11 December 2015. Retrieved 16 November 2015.
- "Stora Enso explores supply, plant options in China". Milwaukee Business Journal. 12 June 2002. Retrieved 8 December 2015.
- Dauvergne, Peter; Lister, Jane (2013). Timber. John Wiley & Sons. ISBN 9780745637693. Archived from the original on 3 October 2020. Retrieved 8 December 2015.
- Valtion rahoittama liimapuutehdas pysähtyi 24.1.2012 B3
- KHO hylkäsi Stora Enson valituksen - Kemijärven jätealtaan puhdistus selvitettävä Archived 2013-09-06 at the Wayback Machine yle 28.8.2013
- "Stora Enso sells part of Kemijarvi mill to Anaika". New Europe. 2 February 2008. Archived from the original on 6 March 2016. Retrieved 10 December 2015.
- "Stora and Arauco Spend $344 Million in Forest Deal". New York Times. 18 May 2009. Archived from the original on 3 October 2020. Retrieved 8 December 2015.
- Rucinski, Tracy; Lamppu, Eva (18 May 2009). "Stora Enso buys Uruguay paper assets from Ence". Reuters. Archived from the original on 11 December 2015. Retrieved 8 December 2015.
- Ward, Andrew (19 January 2011). "Papermakers to build $1.9bn pulp mill". Financial Times. Archived from the original on 3 October 2020. Retrieved 8 December 2015.
- "Actis sells Inpac International to Stora Enso". Private Equity Wire. 31 October 2010. Archived from the original on 11 December 2015. Retrieved 8 December 2015.
- "Stora Enso and Packages Ltd creates joint venture". www.pulpapernews.com (in Swedish). Retrieved 2021-05-03.
- Vehviläinen, Maija. "Stora Enso luopuu osuudestaan Pakistanin-yhtiöstä: 19 miljoonan myyntitappio". Talouselämä (in Finnish). Retrieved 2021-05-03.
- "Stora Enso offloads 35pc equity stake in Bulleh Shah Packaging Ltd". Pakistan Today Profit. 26 July 2017. Archived from the original on 15 December 2018. Retrieved 10 December 2018.
- "Stora Enso to sell 35% share in Pakistan's Bulleh Shah Packaging". Packaging Gateway. 26 July 2017. Archived from the original on 15 December 2018. Retrieved 11 December 2018.
- Pettersson, Jerry (19 September 2017). "Stora Enso har sålt sitt ägande i Bulleh Shah Packaging Ltd". Packnews.se (in Swedish). Retrieved 10 December 2018.[permanent dead link]
- Viita, Kasper (3 March 2015). "Finnish Papermakers Embrace Online World as Slump Ends". Bloomberg News. Archived from the original on 11 December 2015. Retrieved 16 November 2015.
- Hirtenstein, Anna (22 September 2015). "Biomaterials May Be Next Growth Engine for Paper Industry". Bloomberg News. Archived from the original on 6 November 2015. Retrieved 16 November 2015.
- "Stora Enso to increase stake in Inpac Packaging to 90%". EUWID Europäischer Wirtschaftsdienst. 4 January 2016. Archived from the original on 15 December 2018. Retrieved 10 December 2018.
- Milne, Richard (5 July 2017). "Paper groups seek salvation in renewables shift". Financial Times. Archived from the original on 15 December 2018. Retrieved 10 December 2018.
- Milne, Richard (6 June 2018). "Europe left playing catch-up in artificial intelligence". Financial Times. Archived from the original on 15 December 2018. Retrieved 10 December 2018.
- Nair, Gita (25 April 2018). "Two dozen Finnish and Swedish industry giants are forming an AI alliance – 'It's a world-first'". Business Insider Nordic. Archived from the original on 15 December 2018. Retrieved 11 December 2018.
- Mohan, Anne Marie (12 June 2017). "PET-coated case for fish wins WorldStar Award". Greener Package. Archived from the original on 9 October 2018. Retrieved 11 December 2018.
- "Stora Enso – Gold sustainability award for EcoFishBox". Flexo & Gravure Global. 1 June 2017. Retrieved 11 December 2018.[permanent dead link]
- "EcoFishBox by Stora Enso won Quality Innovation Award". Paper Industry World. 3 May 2018. Archived from the original on 15 December 2018. Retrieved 11 December 2018.
- Sapp, Meghan (20 February 2018). "Stora Enso launches Lineo to provide biobased alternatives for fossil-based materials". Biofuels Digest. Archived from the original on 15 December 2018. Retrieved 11 December 2018.
- LEPITREB (5 March 2018). "Stora Enso launches lignin-based phenol". Bioplastics News. Archived from the original on 15 December 2018. Retrieved 11 December 2018.
- Francis, Scott (23 March 2018). "Lineo by Stora Enso wins Bio-Based Product of the Year award". CompositesWorld. Archived from the original on 15 December 2018. Retrieved 11 December 2018.
- "Stora Enso launch renewable lignin tree product to replace oil-based glue". Environment Times. 18 April 2018. Archived from the original on 15 December 2018. Retrieved 11 December 2018.
- Pettersson, Jerry (13 February 2018). "Stora Enso lanserar lignin som ersätter fossilmaterial". Packnews.se (in Swedish). Retrieved 11 December 2018.[permanent dead link]
- "Finnish Firms to Tackle Plastic Pollution With Renewable Straws". New York Times. Reuters. 4 December 2018. Archived from the original on 15 December 2018. Retrieved 11 December 2018.
- "Stora Enso, Sulapac collaborate to develop biodegradable straws". Compelo Packaging. 4 December 2018. Archived from the original on 16 December 2018. Retrieved 12 December 2018.
- "Stora Enso and Sulapac Launch Biodegradable Drinking Straw at Slush 2018". PaperAge. 6 December 2018. Archived from the original on 6 December 2018. Retrieved 12 December 2018.
- "Stora Enso tuo markkinoille muovin korvaavan biokomposiitin". Yle Uutiset (in Finnish). Archived from the original on 2019-05-11. Retrieved 2019-06-13.
- "Nu mixar bruket plast och naturfiber - Hallands Nyheter - Nyhetsklipp 2018-06-07 - Retriever". web.retriever-info.com. Retrieved 2019-06-13.[permanent dead link]
- Oy, Kaakon Viestintä (2019-11-12). "Stora Enso haluaa tuotteensa e-kioskeihin — Metsäjätti sai uuden kumppanin kansainvälisestä digiyhtiö Atoksesta - Uutisvuoksi". uutisvuoksi.fi (in Finnish). Archived from the original on 2020-02-18. Retrieved 2020-02-18.
- "Our divisions". www.storaenso.com. Archived from the original on 2020-05-18. Retrieved 2021-05-03.
- "Paperijätiltä muoviton RFID-tunniste älypakkauksiin". Uusiteknologia.fi (in Finnish). 2018-11-07. Archived from the original on 2020-10-03. Retrieved 2019-06-13.
- MarketScreener. "GRUPO CCRR signed an agreement to acquire ECO RFID-Technology Business of Stora Enso from Stora Enso Oyj. | MarketScreener". www.marketscreener.com. Retrieved 2022-03-23.
- "Stora Enso myy neljä paperitehdasta, joista yksi sijaitsee Suomessa – Anjalan tehtaan pääluottamusmies: "Ihmiset pohtivat, miten tässä oikein käy"". Yle Uutiset (in Finnish). 2022-03-29. Retrieved 2022-04-05.
- "Stora Enso myy pääkonttorinsa". Taloussanomat (in Finnish). 9 June 2008. Archived from the original on 11 December 2015. Retrieved 16 November 2015.
- "Rakentaminen | Joku näistä kuudesta vaihtoehdosta on Stora Enson uusi pääkonttori, joka nousee Helsingin paraatipaikalle Katajanokalla". Helsingin Sanomat (in Finnish). 2020-05-25. Retrieved 2022-03-23.
- "Stora Enson pääkonttorin rakentaminen alkaa". www.storaenso.com (in Finnish). Retrieved 2022-03-23.
- "Stora Enson uudeksi toimitusjohtajaksi Annica Bresky: "Nimityksessä ei katsottu passia, ikää tai sukupuolta"". Helsingin Sanomat (in Finnish). 2019-09-25. Archived from the original on 2020-08-03. Retrieved 2020-02-18.
- "Stora Enson toimitusjohtaja Karl-Henrik Sundström jättää yhtiön ensi vuonna". Helsingin Sanomat (in Finnish). 2019-08-26. Retrieved 2021-05-03.
- "Stora Enson toimitusjohtaja Karvinen eroaa – "arvostettu, vaikka virheitä ollut"". Yle Uutiset (in Finnish). Retrieved 2021-05-03.
- "Härmälä, Jukka(1946 - )". kansallisbiografia.fi. Retrieved 2021-05-03.
- Kankaanranta, Anne (2006). ""Hej Seppo, Could you pls comment on this!"—Internal email communication in lingua franca English in a multinational company". Business Communication Quarterly. 69 (2): 216. doi:10.1177/108056990606900215. S2CID 168080041. Archived from the original on 2020-10-03. Retrieved 2020-09-13.
- Asfalttikartelli kohta tuomilla, Talouselämä 9.6.2006 s. 10 (Finland's Talouselämä newspaper)
- Dokument inifrån Archived 2013-06-11 at the Wayback Machine, Dubbel bokföring, 2013-05-16
- "Stora Enso: Accounting mistake was "human error"". Archived from the original on 2014-02-23. Retrieved 2014-04-23.
- "Stora Enso publicerar sammanfattande extern rapport av utredningar angående anklagelser gällande äldre redovisningsfrågor" (in Swedish). Stora Enso. 7 October 2013. Archived from the original on 4 March 2016. Retrieved 8 December 2015.
- Lindholm, Tomas; Isokorpi, Nina; Rasinaho, Vesa (4 October 2013). "Report on investigations on certain accounting issues" (PDF). Stora Enso. Archived from the original on 4 March 2016. Retrieved 8 December 2015.
- Iivonen, Jyrki (8 October 2013). "Selvitykset vapauttavat Stora Enson väitetystä kirjanpidon peukaloinnista" [Reports free Stora Enso from the alleged tampering in accounting]. Helsingin Sanomat (in Finnish). Archived from the original on 12 December 2015. Retrieved 8 December 2015.
- "Lähde otti yhteyttä Helsingin Sanomiin" [The source contacted Helsingin Sanomat]. Helsingin Sanomat (in Finnish). 8 October 2013. Archived from the original on 12 December 2015. Retrieved 8 December 2015.
- Stora Enso etelän eukalyptusmailla Archived 2015-09-24 at the Wayback Machine Finnwatch 2009
- Mika Koskinen (2011). Red Forest Hotel. Finland. 87 minutes in. Archived from the original on 2016-05-13.
- Mark R. Leeming, In Defence of Home Places: Environmental Activism in Nova Scotia Archived 2018-04-20 at the Wayback Machine (UBC Press, 2017)
- ohlj: "Of Herbicides and Humankind: Palmer's Common Law Lessons" Archived 2018-04-20 at the Wayback Machine, by Bruce H. Wildsmith (Volume 24, Number 1 Spring 1986 Article 6)
- upi.com: "An herbicide spraying battle opening today in Nova Scotia..." Archived 2018-04-20 at the Wayback Machine, May 5, 1983
- Stora Enso kände till barnarbete Archived 2019-04-02 at the Wayback Machine Dagens Nyheter 2014-03-09 (in Swedish)
- "Mitigating Child Labour in Pakistan" (PDF). Stora Enso. March 2014. Archived from the original (PDF) on 6 March 2016. Retrieved 2014-04-10.
- "Legionelle infection in the canal zone of Ghent". Archived from the original on 4 June 2019. Retrieved 4 June 2019.
- "Papierfabrikant Stora Enso uit Gent is mogelijke bron van legionella-uitbraak". Archived from the original on 4 June 2019. Retrieved 4 June 2019.
- "Stora Enso kertoo havainneensa lapsityövoiman käyttöä". Yle Uutiset (in Finnish). 2014-07-21. Retrieved 2022-03-23.
- "Stora Enso and ILO partner to combat child labor". Labels and Labeling. 27 April 2015. Archived from the original on 11 December 2015. Retrieved 8 December 2015.
- Ganson, Brian (2015). "From promise to performance: Stora Enso's journey towards mitigating child labour" (PDF). Global Child Forum. Archived from the original (PDF) on 11 December 2015. Retrieved 8 December 2015.
- "BillerudKorsnäs and Stora Enso awarded top placement for their climate work". Paper Province. 23 December 2016. Archived from the original on 10 August 2017. Retrieved 9 August 2017.
- Lyons Hardcastle, Jessica (26 October 2016). "CDP Climate A List Revealed: Which Firms Lead in Reducing GHG Emissions?". Environmental Leader. Business Sector Media LLC. Archived from the original on 10 August 2017. Retrieved 9 August 2017.
- "Out of the starting blocks: Tracking progress on corporate climate action" (PDF). CDP. 2016. Archived (PDF) from the original on 25 April 2017. Retrieved 9 August 2017.
- "Stora Enso presenting sponsor of Lahti 2017". International Ski Federation. 30 September 2015. Archived from the original on 19 September 2017. Retrieved 9 August 2017.
- "Liqui Moly Signs Sponsorship Deal With 2017 Lahti Nordic World Ski Championships". Street & Smith's SportsBusiness Global. American City Business Journals. 21 September 2016. Archived from the original on 10 August 2017. Retrieved 9 August 2017.
- Burgundy, Michael (17 March 2017). "The Bioeconomy protagonist at the FIS Nordic World Ski Championship 2017". The BioJournal. Archived from the original on 10 August 2017. Retrieved 9 August 2017.