Thu, 21 Oct 1999: Tolaram bets on the right horse with paper mill…



At Horizon, Tolaram ended a 57 year tradition of state ownership by acquiring the bankrupt plant from the Estonian government in 1995; since then, Tolaram has invested $12 million in the factory, and has captured a 25 percent share of the Estonian market in toilet paper for its "Daisy" brand. Throughout, the company has relied on support from the International Finance Corporation, a "bank" whose imperative to make money is balanced by a concern for the development of fledgling capitalist economies.Tolaram's Baltic chief, Urmas Reimand, cites two main factors in making Horizon a model of post-Soviet industrial renewal. First, Tolaram was able to retain most of the previous management, who Reimand describes as "very much targeted to the succe... Read the rest of this entry »

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