What Drives Consolidation in the Paper Industry?

By Kai Korhonen,
CEO of StoraEnso North America

November 22, 2002
at 11:00 a.m. in the Kress auditorium of IPST

Abstract:
In one of the most fragmented of industries, consolidation and globalization is here to stay. Global leaders in the industry such as Stora Enso recognize that fact and have, through their global strategy, grown through mergers, acquisitions and asset restructuring. With limited growth opportunities in Europe in some sectors, a broader global vision has developed. What have we learned in the process? Driven by a carefully crafted global strategy, combined with a mission, vision and values which clearly provide direction, Stora Enso North America is in the midst of a transformation. Recognizing that a global strategy requires local implementation, a different management structure is evolving. Cultural differences are taken into account. But in addition to having a broad management perspective a global company must have core businesses and be a significant player on all continents. Among the outcomes of globalization will be a broader customer base and economies of scale that will improve operational efficiencies and increase shareholder value.

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