Holmen turns its back on Sweden
High electricity prices due to the phase out of nuclear power and uncertainty about energy policy means that the Holmen forestry group does not have any plans to invest in Sweden in the foreseeable future. Magnus Hall, president and chief executive officer of Holmen, said to DI: “No information is given about the future electricity supply, which we see as extremely worrying. It’s hard to motivate investments in electricity-intensive industry given the present conditions.”
Folksam tried to keep lid on loss
Using creative bookkeeping insurer Folksam tried to conceal a billion-crown loss at one of its subsidiaries, reported DN this week.
British subsidiary Folksam International was on the brink of bankruptcy in 2001, a bankruptcy that would damage Folksam’s credibility as a major player. Folksam sold the company to four consultants for one krona and just six months later the company went into the hands of the receivers.
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