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Author:Ahola, Anna
Title:Acquisition Drivers in the Forest Industry - Industry Scenarios 2012
Yrityskauppadriverit metsäteollisuudessa - Tulevaisuusskenaariot 2012
Publication type:Master's thesis
Publication year:2004
Pages:170      Language:   eng
Department/School:Tuotantotalouden osasto
Main subject:Yritysstrategia ja kansainvälinen liiketoiminta   (TU-91)
Supervisor:Tikkanen, Henrikki
Instructor:Rauramo, Markus
OEVS:
Electronic archive copy is available via Aalto Thesis Database.
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Location:P1 Ark Aalto  7704   | Archive
Keywords:forest industry
paper industry
M&A
merger
acquisition
capacity growth
forecast
case study
metsäteollisuus
paperiteollisuus
M&A
yrityskauppa
kapasiteetin kasvu
ennuste
case tutkimus
Abstract (eng):This main goal of this study is to make global future scenarios of forest industry and select forest industry companies for the year 2012.
A significant part of the work comes from understanding the industry development drivers and the case companies' operating logic.
Issues of main interest are the development of large paper companies and their acquisition drivers.
This thesis also gives an introduction to the general theoretical acquisition drivers.

This study is a qualitative synthesis of available data, thus many methods were used.
The future forecasts of Pöyry and RISI were explored, analysts, investment bankers and industry experts were interviewed, academic research was studied and 8 case studies were compiled.
The case companies are Abitibi-Consolidated, Asia Pulp & Paper, International Paper, Kappa Packaging, Mondi International, Sappi, SCA and UPM-Kymmene.
Primary time scale in the company case studies is 1990-2003.

Conclusion of the study is that forest industry consolidation will continue.
The largest paper companies will grow 6-12 million paper and board tonnes until 2012.
Most of this growth comes through mergers and acquisitions.
Consolidation will happen locally, globally, within current paper grades and by diversifying into other grades.
Most of the organic capacity growth will materialize in new regions, like China.
Abstract (fin):Työn ensisijainen tavoite oli tehdä globaaleja tulevaisuudenskenaarioita metsäteollisuudelle ja valituille alan yrityksille vuodelle 2012.
Merkittävä osa työstä oli ymmärtää alan kehityskaaria ja case-yritysten toimintalogiikkaa.
Erityisiä kiinnostuksen kohteita olivat suurten paperiyritysten kehitys ja niiden yrityskauppadriverit.
Tutkimus myös esittää yhteenvedon yleisistä teoreettisista yrityskauppamotiiveista.

Tämä tutkimus on synteesi saatavilla olevasta tiedosta, joten se hyödyntää useita tietolähteitä.
Työssä tutkittiin Pöyryn ja RISI:n tulevaisuuden ennusteita, haastateltiin analyytikoita, investointipankkiireita ja alan eksperttejä, käytiin lävitse akateemista tutkimusta ja tehtiin 8 case-tutkimusta alan yrityksistä.
Case-yritykset olivat Abitibi-Consolidated, Asia Pulp & Paper, International Paper, Kappa Packaging, Mondi International, Sappi, SCA sekä UPM-Kymmene.
Case-tutkimusten ensisijainen tarkasteluväli on 1990-2003.

Tutkimuksen johtopäätös on, että metsäteollisuuden konsolidaatio tulee jatkumaan.
Suurimmat paperiyritykset tulevat kasvamaan noin 6-12 miljoonaa paperitonnia vuoteen 2012 mennessä.
Suurin osa tästä kasvusta tapahtuu yrityskauppojen avulla.
Ala tulee konsolidoitumaan paikallisesti, globaalisti, nykyisten paperilaatujen sisällä sekä diversifioitumalla uusiin laatuihin.
Suurin osa orgaanisesta kasvusta tapahtuu uusilla alueilla, kuten Kiinassa.
ED:2004-03-02
INSSI record number: 21260
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