Ok 1 I'll give this one away.
ONCE upon a time" is the stuff of fairy tales, not corporate histories. But that is how Stora Enso Oyj introduces its saga, and for good reason. The Swedish company is as old as the millennium. That makes it one of the oldest companies in the world.
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Its stock is also well worth buying, industry analysts say. Stora joined forces a year ago with Enso Oyj of Finland to create Europe's biggest paper maker. The combined group is taking advantage of record-low inventories around the world and raising prices. At the same time, it is divesting itself of €2 billion ($2.04 billion) worth of utility assets in a bid to overtake International Paper Co. and become the top paper maker in the word.
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It is quite a story, not only because Stora is so old but also because its history so well illustrates the ongoing struggle in Europe between public and private enterprise.
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Stora traces its origins to Stora Kopparberget, or the Great Copper Mountain, in Falun, Sweden. The mine was first worked at some time between 850 and 1080.
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A Deed of Exchange dated 1288 and signed by the king bequeathed an eighth part in the mine to the diocese of Bishop Peter of Vasteras in exchange for a farm complete with mills, fields, pastures, fishing rights and forests.
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