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Home > Company Index > Energy > Integrated Oil & Gas > Fortum Corporation

Fortum Corporation
 PROFILE
Seeking fame and fortune in and outside of Finland, Fortum was formed by the merger of two state-run companies: utility giant Imatran Voima Oy (IVO) and oil, gas, and chemicals monopoly Neste. The energy powerhouse explores for and produces oil and gas in Norway, Oman, and Russia (proved reserves are 270 million barrels of oil equivalent), refines and markets petroleum products (it runs more than 1,100 gas stations), and provides energy-related engineering services. In the Baltic Rim it provides power (8,300 MW) and heat (5,700 MW) generation, distributes electricity to 900,000 customers (in Estonia, Finland, Germany, and Sweden), and operates and maintains power plants. The Finnish government owns 75% of Fortum.

 COMPETITION
Norsk Hydro ASA (NHY)
VEBA Oel AG (dossier)
Vattenfall AB (dossier)

 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 10,382.10
1-Yr. Sales Growth: 25.2%
Employees: 16,220
Revenue per employee: $640,080.15

 KEY PEOPLE
• Eero Aittola
    CEO

 CONTACT INFO
Keilaniemi
00048 Espoo, Finland
Phone: 358-10-451-1
Fax: 358-10-45-24595
Online: Web Site

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