Fiskars

Fiskars Corporation
Public
Traded as OMX: FIS1V
Industry Consumer products
Founded 1649
Headquarters Helsinki, Finland
Key people
 Kari Kauniskangas (CEO)
Paul Ehrnrooth (Chairman)
Products Scissors, gardening tools, kitchenware, ceramics, knives, outdoor equipment, boats
Revenue Increase €697 million (2008)[1]
Decrease €70.9 million (2008)[1]
Profit Decrease €49.2 million (2008)[1]
Number of employees
 3 623 (31.12.2009))[1]
Subsidiaries Iittala Group
Gerber Legendary Blades
Fiskars
Website www.fiskarsgroup.com
This article is about the company. For the village in which this company was founded, see Fiskars, Finland.

The Fiskars Corporation (Fiskars Oyj Abp) is a metal and consumer brands company founded in 1649 at Fiskars Bruk (Finnish: Fiskarsin Ruukki), a locality now in the town of Raseborg, Finland, about 100 kilometres (62 mi) 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.

History

Scissors with ergonomic orange plastic handles are the best-known product by Fiskars; they have been manufactured since 1967.

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.

Today

Military entrenching tool manufactured by Fiskars for the US Marines

Originally a Finnish manufacturer, Fiskars is now a holding company that imports from countries around the world, primarily China. 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 acquired by Fiskars in 2007.[2]

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 square kilometres (58 sq mi) of land near the birthplace of the company.

Fiskars Corporation, headquartered in 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 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.

Brands and products

Buster motorboat by Fiskars

According to the Fiskars Group, its core international brands are:[3]

The garden shears and scissors division of Wilkinson Sword was sold to Fiskars in the 1990s but the Wilkinson brand was phased out in 2010. In 2011 Fiskars divested their navigational equipment and outdoors equipment brand, Silva.

Iittala Kivi candle holder

In addition to acquiring Iittala Group and Silva 2006-2007, Fiskars also owns several other brands, including:

In Finland, according to a 2008 survey which included both Finnish and international brands, Fiskars was the most respected brand among consumers.[5] There were three other Fiskars-owned brands in the top 5: Arabia (#2), Iittala (#4) and Hackman (#5).[5]

Financial

Fiskars Corporation's net sales in fiscal year 2008 were € 697.0 million, up from € 647.0 in 2007. The increase was mainly due to the acquisitions of Iittala Group and Leborgne in 2007.

Cash flow from operations in 2008 was € 97.0 million compared to € 82.0 million in 2007.

The operating profit (EBIT) was € 70.9 million compared to € 106.9 million last year. The decrease was primarily caused by non-recurring items totalling € 34.9 million. Earnings per share for the year were € 0.64, down from € 1.40 in 2007.

References

  1. ↑ 1.0 1.1 1.2 1.3 "Fiskars Annual Report 2008" (PDF). Fiskars Corporation. 2009-03-09. Retrieved 2008-03-13.
  2. ↑ "Fiskars acquires Iittala Group". Fiskars Corporation. 2007-06-29. Archived from the original on 2008-01-17. Retrieved 2008-03-21.
  3. ↑ "Fiskars website".
  4. ↑ "Fiskars to sell the Brunton business to Fenix Outdoor". Fiskars Corporation. 2009-12-04. Retrieved 2009-12-04.
  5. ↑ 5.0 5.1 "Fiskars nousi Suomen ykkösbrändiksi" (in Finnish). Markkinointi & Mainonta. 2008-09-26. Retrieved 2008-03-13.

External links