History
Orkla started out in 1654 with pyrite mining at Løkken Verk in Sør-Trøndelag, Norway. Later the company also started mining copper, but the copper mining was abandoned in 1845. In 1904 Orkla Grube-Aktiebolag was founded by Christian Thams to start commercial mining at Løkken Verk, including the construction of Thamshavnbanen, the first electric railway in Norway, between Løkken Verk and Thamshavn. This railway is still operated as a museum railway after the mining operations at Løkken Verk were closed on July 10, 1987.
In 1929 Orkla became listed on Oslo Stock Exchange and in 1931 the new smelting plant at Thamshavn outside Orkanger is opened. By 1941 Orkla started with a separate investments portfolio, and opened offices in Oslo in 1975. In 1984 Orkla started a major takeover of Norwegian newspapers, creating Orkla Media as one of the three largest media companies in Norway. Half of the magazine publisher Egmont-Mortensen is added to Orkla Media in 1992 and the Danish Det Berlingske Officin in 2000. Orkla sold the media section to Mecom in 2006.
In 1986 Orkla merged with Borregaard based in Sarpsborg to form Orkla Borregaard. The company then merged with Nora Industrier in 1992. Borregaard was spun off and introduced to the Oslo Stock Exchange in October 2012, with Orkla retaining a minority stake in the company. Orkla heavily invests in foods and among others acquired Swedish brewery Pripps as well as other companies including Abba Seafood, Baltic Beverages Holding and Procordia Food. Norwegian Ringnes and Pripps were merged with Carlsberg Breweries, where Orkla acquires a 40% ownership in 2000. Orkla sold its ownership in Carlsberg in 2004, the same year it buys SladCo. In 2005 Orkla bought the Norwegian material company Elkem and Sapa Group in Sweden. In 2010 Orkla bought the Estonian confectionary company Kalev.
Read more about this topic: Orkla Group
Famous quotes containing the word history:
“The visual is sorely undervalued in modern scholarship. Art history has attained only a fraction of the conceptual sophistication of literary criticism.... Drunk with self-love, criticism has hugely overestimated the centrality of language to western culture. It has failed to see the electrifying sign language of images.”
—Camille Paglia (b. 1947)
“A man acquainted with history may, in some respect, be said to have lived from the beginning of the world, and to have been making continual additions to his stock of knowledge in every century.”
—David Hume (1711–1776)
“Considered in its entirety, psychoanalysis won’t do. It’s an end product, moreover, like a dinosaur or a zeppelin; no better theory can ever be erected on its ruins, which will remain for ever one of the saddest and strangest of all landmarks in the history of twentieth-century thought.”
—Peter B. Medawar (1915–1987)