Word: kopparbergs
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...fewer than 50 Swedish companies, or more than half of Sweden's industry. Directly under Wallenberg management are most of Sweden's international companies, including plane-and automaking SAAB, the $275 million telephone equipment manufacturer L. M. Ericsson, the $500 million ballbearing producer SKF, and Stora Kopparberg, a diversified mining and mineral complex (TIME, March 15). The family also guides Stockholm's largest department store and the company that runs the city's three most luxurious restaurants. In no other industrialized nation in the world does one family exert such enormous economic power...
...world's oldest industrial corporation is still going strong. Where? In Sweden. In operation 73 years after King John signed the Magna Carta and more than 200 years before Columbus discovered America, Sweden's Stora Kopparberg Bergslags Aktiebolag has fueled Sweden's industrial growth over the centuries, and today is a modern diversified giant whose eye is on the future. Stora Kopparberg is Sweden's largest producer of electricity, one of the biggest manufacturers of pulpwood and newsprint (with exports to 40 nations), the largest supplier of dairy and agricultural produce, the biggest steelmaker...
Hell & Glory. Like its name, the company's history is linked to Stora Kopparberg-a great subterranean copper "mountain" of unusually pure copper ore located among the gloomy forests of central Sweden. Toward the end of the Dark Ages, when copper was needed to arm Europe's growing armies, hundreds of men migrated to the copper mountain. At the pithead sprang up the village of Falun, Sweden's first industrial center, where the company still has its headquarters. At first each miner dug and smelted the ore himself, but by 1347 King Magnus Eriksson had granted...
...glory that the Kopparberg brought Sweden, mining conditions were appalling. Sulphurous smoke blacked the huts of Falun and killed off all plant life for miles around. The workers' plight in the dark and sooty mines was so bad that a visitor in the 1700s wrote that "no theologian has ever been able to describe hell so frightfully." In the early 19th century, as iron began replacing copper in importance, Stora Kopparberg turned away from the riches of the copper mountain and began the diversification that has kept it alive and thriving...
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