Decade's worst business decisions?

December 30, 2009 by timbercommunity

The editorial staff of the Swedish business paper "Dagens Industri" has selected ten candidates for
the unflattering distinction "decade dumbest business decisions" in Sweden. The forest company Stora Enso tops the list.
 

The jury motiveres its decision by Stora Enso's poor acquisition in the early 2000s. Stora Enso's CEO Jukka Härmälä and Chairman  Claes Dahlback burned 30 to 50 billion SEK (2 894 720 000 Euro to 4 824 530 000 Euro)  on the purchase of American Consolidated Papers. The same duo sold forest resources in the years 2000-2004 SEK just before an additional appreciation and therefore lost an estimated value increase of 20 billion SEK (1 929 810 000 Euro). Total estimated loss in Stora Enso between 50-70 billion SEK according to the newspaper.

In Swedish