Fiskars
From Wikipedia, the free encyclopedia
The Fiskars Corporation (OMX: FISAS) is a metal and consumer brands company founded in 1649 at Fiskars Bruk (Finnish: Fiskarsin Ruukki), a locality in Pohja municipality, Finland, about 100 km west of Helsinki on the old main road from Turku to Vyborg. Fiskars is best known today for its scissors, axes, and high-quality knives.
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[edit] History
The Fiskars Corporation was formed in 1649 when a Dutch merchant named Peter Thorwöste was given a charter to establish a blast furnace and forging operation in the small village of Fiskars. The furnace produced pig iron that was shingled to wrought iron in the finery forges powered by water wheels. In the early years, Fiskars made nails, wire, hoes, and metal reinforced wheels from wrought iron.
As industrial and economic development accelerated in Europe, Fiskars was on the forefront of innovation, and expanded the knifeworks to become a premier steel and ironworks company, manufacturing agricultural machinery, steam engines, and household utensils, including candlesticks, forks, and scissors. The first pair of Fiskars scissors was created more than 130 years ago, and made of heavy forged steel. One of their most recognizable products, the orange colored scissors were designed in 1967. Fiskars was also one of the first companies in Europe to manufacture microwave ovens.
Fiskars was listed on the Helsinki Stock Exchange in 1915.
[edit] Today
Fiskars is now a holding company. Their largest holding is Fiskars Brands, which still produces the traditional craft and garden products that made the company famous. This division is headquartered in Madison, Wisconsin, United States. The business areas of Fiskars Brands include Outdoor Recreation, Portland, Oregon, USA; Fiskars School, Office, and Craft, Madison, Wisconsin, USA; Fiskars Garden and Outdoor Living, Sauk City, Wisconsin, USA; Fiskars Europe, Brussels, Belgium; and Fiskars Corporation and Fiskars Housewares, Helsinki, Finland.
Iittala Group, the Finnish houseware design company, was purchased by Fiskars in 2007. [1]
Inha Works, located on Ähtäri, Finland, is a wholly owned subsidiary of Fiskars that produces aluminium boats with the Buster brand name.
Fiskars is also the largest shareholder of its associated company, Wärtsilä and also operates a real estate group that manages about 150 km² of land near the birthplace of the company.
Fiskars Corporation, headquartered out of Helsinki, is the company's global headquarters and oversees all of these operations.
Fiskars has over 4,300 employees worldwide. Most of these employees work in offices that oversee the companies operation in the country or region which they serve. The countries and regions are Asia, Australia, Belgium, Canada, China, Denmark, Finland, France, Germany, Hungary, Italy, Japan, Mexico, Norway, Poland, Russia, Sweden, UK, and USA. The company also has manufacturing facilities in Taiwan, China, and other locations, but many products are not manufactured offshore to their markets.
[edit] Financial
In 2004, Fiskars made €597.0 (million) in net sales. The cost of the goods sold was €420.3. Gross profit was €157.7. Sales and marketing expenses were €64.5, administration expenses were €60.6, restructuring expenses were €3.5, financial expenses were €3.3, and other operating expenses were €12.6. Fiskars made €20.9 from share in associated companies and €3.6 from other operating income. Profit before taxes was €56.7 and after taxes was €44.9.
The company's profit was 7.5% of net sales, up from -2.1%, or -€12.8 in 2003, even though the company had net sales of €620.3 in 2003.
