The growth strategies utilized by Stora Enso in becoming world leader in pulp and papermaking were reported. The company focussed on international competence, mergers&acquisitions and customer relationships. Stora Enso announced plans to build a new machine in langerbrugge, Belgium to compensate for the capacity additions. The company pledged to keep capital expenditure below the level of depreciation and achieve 13% return on capital employed over the business cycle.