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.............................. Fortum
Logo and Trademark..............................
For the antibiotic marketed by GlaxoSmithKline plc, see Fortum (antibiotic). Fortum Oyj is a Finnish public listed energy company, which focus on Nordic and Baltic countries, Poland and the north-west of Russia. The head of the company is Mikael Lilius, President and CEO. Fortum operations cover the generation, distribution and sale of electricity and heat. Also it operates and maintenances power plants as well as does other energy-related services. The main products of the company are electricity, heat and steam.
Fortum Oyj was created in 1998 by merger of the electricity company Imatran Voima Oy (IVO - founded in 1921) and the oil company Neste Oyj. In 2005, the oil business was separated again from Fortum and it was transferred to re-established Neste Oil company. Majority of Fortum's shares (51.1%) is owned by Finnish Government. The market capitalization of company is around €19 billion.
In Norway Fortum has bought several power companies and set up a base in Sarpsborg. Through subsidiaries it operates the power grid in most of Østfold, as well as owning the district heating system in Bærum. Fortum also holds partial ownership of Fredrikstad Energi (49%) and Hafslund (34%).
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