Investments and value creation Case pulp and paper industry

Tämä tutkimus analysoi 49 sellu- ja paperiteollisuusyrityksen investointistrategioiden ja yrityksen arvon välistä yhteyttä vuosien 1996 ja 2005 välillä. Teoriaosa luo katsauksen arvonmääritysmenetelmiin ja investointien vaikutuksesta yrityksen arvoon ja arvonluontiin. Empiirinen osa on sekä kuvaileva, että selittävä. Yrityksen arvon kehittyminen mitataan vuosittain lisäarvomallilla (EVA®). Toteutetussa analyysissa yritykset on ryhmiteltyjoko liiketoimintaorientaation tai maantieteellisen alueen mukaan. Yritysten investointistrategiat jaoteltiin kasvumallin mukaisesti T&K:hon käyttöomaisuusinvestointeihin ja yritysostoihin. Kasvumallin tulokset ovat raportoitu yritystasolla. Tulokset osoittavat, että harvat sellu- ja paperiteollisuusyritykset ovetpystyneet arvonluontiin. Arvonluonti riippuu merkittävästi talouden suhdanteista. Yritysten investointistrategiat ovat olleet hyvin identtisiä tarkastelujaksonaikana ja alan suurimpien yritysten investointistrategiat kuvaavat hyvin koko toimialan kehitystä. Pienempien yritysten investointistrategiat eroavat valtavirran toimista. Jatkoanalyysi osoitti, että investoinnit käyttöomaisuuteen parantavat kannattavuutta, mitattuna EBITDA-%:lla ja yritysostot heikentävät sitä. Mitattaessa arvonluontia EVA®:lla käyttöomaisuusinvestoinneilla on positiivinen vaikutus arvonluontiin, kun taas yritysostot tuhoavat arvoa. Havainnot tukevat aikaisempia empiirisiä tutkimustuloksia.

Financial Analysis of the Pulp and Paper Industry: Performance and value creation of the world's pulp and paper companies

Tutkimuksen tavoitteena on analysoida 74 sellu- ja paperiyrityksen taloudellista suorituskykyä kannattavuutta, maksuvalmiutta, vakavaraisuutta ja arvonluontikykyä kuvaavilla tunnusluvuilla. Tutkimuksen teoriaosa esittelee liiketoiminta-analyysin välineet, jonka jälkeen esitellään taloudelliset tunnusluvut. Empiriaosassa käydään läpi vuoden 2005 tunnusluvut yritystasolla. Jotta voidaan tarkastella tunnuslukujen muutoksia pitkällä aikavälillä, yritykset ryhmitellään maantieteellisen sijainnin sekä liiketoimintaorientaation mukaan. Tutkimus on kuvaileva. Tunnusluvuista voidaan todeta sellu- ja paperiteollisuudessa meneillään oleva toimialan rakennemuutos. Eteläamerikkalaiset yritykset, jotka hyötyvät uudesta ja kustannustehokkaasta raaka-aineesta, ovat siirtyneet lähemmäs arvonluontia, kun taas suurin osa pohjoisamerikkalaisista yrityksistä, jotka olivat toimialan johtavia arvonluojia, ovat nyt arvon tuhoajia. Toimiala kärsii myös alhaisesta kannattavuudesta, joka vaikuttaa eniten pohjoisamerikkalaisiin yrityksiin. Samaan aikaan eteläamerikkalaiset yritykset ovat nostaneet kannattavuuttaan, mikä puolestaan korostaa meneillään olevaa muutosta.

Particle transport method for convection-diffusion-reaction problems

Convective transport, both pure and combined with diffusion and reaction, can be observed in a wide range of physical and industrial applications, such as heat and mass transfer, crystal growth or biomechanics. The numerical approximation of this class of problemscan present substantial difficulties clue to regions of high gradients (steep fronts) of the solution, where generation of spurious oscillations or smearing should be precluded. This work is devoted to the development of an efficient numerical technique to deal with pure linear convection and convection-dominated problems in the frame-work of convection-diffusion-reaction systems. The particle transport method, developed in this study, is based on using rneshless numerical particles which carry out the solution along the characteristics defining the convective transport. The resolution of steep fronts of the solution is controlled by a special spacial adaptivity procedure. The serni-Lagrangian particle transport method uses an Eulerian fixed grid to represent the solution. In the case of convection-diffusion-reaction problems, the method is combined with diffusion and reaction solvers within an operator splitting approach. To transfer the solution from the particle set onto the grid, a fast monotone projection technique is designed. Our numerical results confirm that the method has a spacial accuracy of the second order and can be faster than typical grid-based methods of the same order; for pure linear convection problems the method demonstrates optimal linear complexity. The method works on structured and unstructured meshes, demonstrating a high-resolution property in the regions of steep fronts of the solution. Moreover, the particle transport method can be successfully used for the numerical simulation of the real-life problems in, for example, chemical engineering.

Supporting knowledge creation and sharing in the early phases of the strategic innovation process

The driving forces of technology and globalization continuously transform the business landscape in a way which undermines the existing strategies and innovations of organizations. The challenge for organizations is to establish such conditions where they are able to create new knowledge for innovative business ideas in interaction between other organizations and individuals. Innovation processes continuously need new external stimulations and seek new ideas, new information and knowledge locating more and more outside traditional organizational boundaries. In several studies, the early phases of the innovation process have been considered as the most critical ones. During these phases, the innovation process can emerge or conclude. External knowledge acquirement and utilization are noticed to be important at this stage of the innovation process giving information about the development of future markets and needs for new innovative businessideas. To make it possible, new methods and approaches to manage proactive knowledge creation and sharing activities are needed. In this study, knowledge creation and sharing in the early phases of the innovation process has been studied, and the understanding of knowledge management in the innovation process in an open and collaborative context advanced. Furthermore, the innovation management methods in this study are combined in a novel way to establish an open innovation process and tested in real-life cases. For these purposes two complementary and sequentially applied group work methods - the heuristic scenario method and the idea generation process - are examined by focusing the research on the support of the open knowledge creation and sharing process. The research objective of this thesis concerns two doctrines: the innovation management including the knowledge management, and the futures research concerning the scenario paradigm. This thesis also applies the group decision support system (GDSS) in the idea generation process to utilize the converged knowledge during the scenario process.

Ash Particle Erosion on Steam Boiler Convective Section

In this study, equations for the calculation of erosion wear caused by ash particles on convective heat exchanger tubes of steam boilers are presented. Anew, three-dimensional test arrangement was used in the testing of the erosion wear of convective heat exchanger tubes of steam boilers. When using the sleeve-method, three different tube materials and three tube constructions could be tested. New results were obtained from the analyses. The main mechanisms of erosionwear phenomena and erosion wear as a function of collision conditions and material properties have been studied. Properties of fossil fuels have also been presented. When burning solid fuels, such as pulverized coal and peat in steam boilers, most of the ash is entrained by the flue gas in the furnace. In bubbling andcirculating fluidized bed boilers, particle concentration in the flue gas is high because of bed material entrained in the flue gas. Hard particles, such as sharp edged quartz crystals, cause erosion wear when colliding on convective heat exchanger tubes and on the rear wall of the steam boiler. The most important ways to reduce erosion wear in steam boilers is to keep the velocity of the flue gas moderate and prevent channelling of the ash flow in a certain part of the cross section of the flue gas channel, especially near the back wall. One can do this by constructing the boiler with the following components. Screen plates can beused to make the velocity and ash flow distributions more even at the cross-section of the channel. Shield plates and plate type constructions in superheaters can also be used. Erosion testing was conducted with three types of tube constructions: a one tube row, an inline tube bank with six tube rows, and a staggered tube bank with six tube rows. Three flow velocities and two particle concentrations were used in the tests, which were carried out at room temperature. Three particle materials were used: quartz, coal ash and peat ash particles. Mass loss, diameter loss and wall thickness loss measurements of the test sleeves were taken. Erosion wear as a function of flow conditions, tube material and tube construction was analyzed by single-variable linear regression analysis. In developing the erosion wear calculation equations, multi-variable linear regression analysis was used. In the staggered tube bank, erosion wear had a maximum value in a tube row 2 and a local maximum in row 5. In rows 3, 4 and 6, the erosion rate was low. On the other hand, in the in-line tube bank the minimum erosion rate occurred in tube row 2 and in further rows the erosion had an increasing value, so that in a six row tube bank, the maximum value occurred in row 6.

Fabrication and characterization of silicon position sensitive particle detectors

Position sensitive particle detectors are needed in high energy physics research. This thesis describes the development of fabrication processes and characterization techniques of silicon microstrip detectors used in the work for searching elementary particles in the European center for nuclear research, CERN. The detectors give an electrical signal along the particles trajectory after a collision in the particle accelerator. The trajectories give information about the nature of the particle in the struggle to reveal the structure of the matter and the universe. Detectors made of semiconductors have a better position resolution than conventional wire chamber detectors. Silicon semiconductor is overwhelmingly used as a detector material because of its cheapness and standard usage in integrated circuit industry. After a short spread sheet analysis of the basic building block of radiation detectors, the pn junction, the operation of a silicon radiation detector is discussed in general. The microstrip detector is then introduced and the detailed structure of a double-sided ac-coupled strip detector revealed. The fabrication aspects of strip detectors are discussedstarting from the process development and general principles ending up to the description of the double-sided ac-coupled strip detector process. Recombination and generation lifetime measurements in radiation detectors are discussed shortly. The results of electrical tests, ie. measuring the leakage currents and bias resistors, are displayed. The beam test setups and the results, the signal to noise ratio and the position accuracy, are then described. It was found out in earlier research that a heavy irradiation changes the properties of radiation detectors dramatically. A scanning electron microscope method was developed to measure the electric potential and field inside irradiated detectorsto see how a high radiation fluence changes them. The method and the most important results are discussed shortly.

Effluent particle removal by microirrigation system filters

La distribución del número y del volumen de partículas, y la eficiencia de eliminación de las partículas y los sólidos en suspensión de diferentes efluentes y sus filtrados, fueron analizadas para estudiar si los filtros más usuales en los sistemas de riego localizado eliminan las partículas que pueden obturar los goteros. En la mayoría de los efluentes y filtrados fue mínimo el número de partículas con diámetros superiores a 20 μm. Sin embargo, al analizar la distribución del volumen de las partículas, en los filtrados aparecieron partículas de dimensiones superiores a la luz de los filtros de anillas y malla, siendo el filtro de arena el que retuvo las partículas de mayor diámetro. La eficiencia de los filtros para retener partículas se debió más al tipo de efluente que al filtro. Se verificó también que la distribución del número de partículas sigue una relación de tipo potencial. Analizando el exponente β de la ley potencial, se halló que los filtros no modificaron significativamente la distribución del número de partículas de los efluentes.

Assessment of the water chemistry and the macroinvertebrate community changes produced during the creation of the new Llobregat river mouth (Barcelona, NE Spain)

In 1999, a set of coordinated projects and investments whose principal objective was to transform Barcelona into one of the main distribution points of southern Europe resulted in the relocation of the Llobregat River mouth. The mouth was relocated by draining the old river mouth and constructing a new one. The aim of this study was to characterise the physico-chemical properties and the aquatic macroinvertebrate communities of the new river mouth and to monitor the changes experienced by the estuarine environment during its creation. A sampling point was established in the river 1.8 km upstream from its connection with the new mouth, and two sampling points were established in the new mouth. Samples of water and macroinvertebrates were collected every two months from May 2004 to June 2005, covering the periods before (from May to September 2004) and after (from September 2004 to June 2005) the new mouth was connected to the river and the sea. During the period before its connection to the river and the sea, the new mouth was functionally similar to a lagoon, with clear waters, charophytes and a rich invertebrate community. After the connection was completed, seawater penetrated the river mouth and extended to the connection point with the river (approximately 3.9 km upstream). An increase in conductivity from 4-6 mS cm 1 to 24-30 mS cm 1 caused important changes in the macroinvertebrate community of the new mouth. An initial defaunation was followed by a colonisation of the new mouth by brackish-water and marine invertebrate species. Due to its design (which allows the penetration of the sea) and the decreased discharge from the lower part of the Llobregat River, the new mouth has become an arm of the sea

Ramp-up Predictability - Designing and Prototyping Ramp-up Predictability concept for new product creation

Diplomityön tavoitteena on tutkia ja kehittää menetelmä tuotekehitysprojektin ajalliselle ennustamiselle tuotteen siirtyessä tuotekehityksestä massatuotantoon. Ajallisen ennustamisen merkitys korostuu mitä lähemmäksi uuden tuotteen massatuotannon aloittaminen (ramp-up) tulee, koska strategiset päätökset koskien mm. uusia tuotantolinjoja, materiaalien- ja komponenttien tilaamisia sekä vahvistus asiakastoimitusten aloittamista täytyy tehdä jo paljon aikaisemmin.Työ aloitetaan tutkimalla rinnakkaista insinöörityötä (concurrent engineering) sekä suoritusten mittaamista (performance measurement), joiden sisältämistä ajattelumalleista, työkaluista ja tekniikoista hahmottuivat ajallisen ennustettavuuden onnistumisen edellytykset. Näitä olivat suunnitellun tuotteen ja tuotekehitysprosessin laatu sekä resurssien ja tiimien kompetenssit. Toisaalta ajalliseen ennustettavuuteen vaikuttavat myös projektien riippuvuudet ulkoisista toimittajista ja heidän aikatauluistaan.Teoreettisena viitekehyksenä käytetään Bradford L. Goldense:n luomaa mallia tuotekehityksen proaktiiviseksi mittaamiseksi sekä sovelletaan W. Edward Deming:in jatkuvan parantamisen silmukkaa. Työssä kehitetään Ramp-up Predictability konsepti, joka koostuu keskipitkän ja pitkän aikavälin ennustamisesta. Työhön ei kuulunut mallin käyttöönotto ja seuranta.Toimenpide ehdotuksena esitetään lisätutkimusta mittareiden keskinäisestä korrelaatioista ja niiden luotettavuudesta sekä mallien tarjoamista mahdollisuuksista muille tulosyksiköille.

Spectral energy distribution of the gamma-ray microquasar LS 5039

The microquasar LS 5039 has recently been detected as a source of very high energy (VHE) $\gamma$-rays. This detection, that confirms the previously proposed association of LS 5039 with the EGRET source 3EG~J1824$-$1514, makes of LS 5039 a special system with observational data covering nearly all the electromagnetic spectrum. In order to reproduce the observed spectrum of LS 5039, from radio to VHE $\gamma$-rays, we have applied a cold matter dominated jet model that takes into account accretion variability, the jet magnetic field, particle acceleration, adiabatic and radiative losses, microscopic energy conservation in the jet, and pair creation and absorption due to the external photon fields, as well as the emission from the first generation of secondaries. The radiative processes taken into account are synchrotron, relativistic Bremsstrahlung and inverse Compton (IC). The model is based on a scenario that has been characterized with recent observational results, concerning the orbital parameters, the orbital variability at X-rays and the nature of the compact object. The computed spectral energy distribution (SED) shows a good agreement with the available observational data.

Dynamic and quasistatic trajectories in quasifission reactions and particle emission

We show that the quasifission paths predicted by the one-body dissipation dynamics, in the slowest phase of a binary reaction, follow a quasistatic path, which represents a sequence of states of thermal equilibrium at a fixed value of the deformation coordinate. This establishes the use of the statistical particle-evaporation model in the case of dynamical time-evolving systems. Pre- and post-scission multiplicities of neutrons and total multiplicities of protons and α particles in fission reactions of 63Cu+92Mo, 60Ni+100Mo, 63Cu+100Mo at 10 MeV/u and 20Ne+144,148,154Sm at 20 MeV/u are reproduced reasonably well with statistical model calculations performed along dynamic trajectories whose slow stage (from the most compact configuration up to the point where the neck starts to develop) lasts some 35×10−21 s.

Impact of open-ocean convection on particle fluxes and sediment dynamics in the deep margin of the Gulf of Lions.

Abstract. The deep outer margin of the Gulf of Lions and the adjacent basin, in the western Mediterranean Sea, are regularly impacted by open-ocean convection, a major hydrodynamic event responsible for the ventilation of the deep water in the western Mediterranean Basin. However, the impact of open-ocean convection on the flux and transport of particulate matter remains poorly understood. The variability of water mass properties (i.e., temperature and salinity), currents, and particle fluxes were monitored between September 2007 and April 2009 at five instrumented mooring lines deployed between 2050 and 2350-m depth in the deepest continental margin and adjacent basin. Four of the lines followed a NW-SE transect, while the fifth one was located on a sediment wave field to the west. The results of the main, central line SC2350 ("LION") located at 42 02.50 N, 4 410 E, at 2350-m depth, show that open-ocean convection reached midwater depth ( 1000-m depth) during winter 2007-2008, and reached the seabed ( 2350-m depth) during winter 2008-2009. Horizontal currents were unusually strong with speeds up to 39 cm s−1 during winter 2008-2009. The measurements at all 5 different locations indicate that mid-depth and near-bottom currents and particle fluxes gave relatively consistent values of similar magnitude across the study area except during winter 2008-2009, when near-bottom fluxes abruptly increased by one to two orders of magnitude. Particulate organic carbon contents, which generally vary between 3 and 5 %, were abnormally low ( 1 %) during winter 2008-2009 and approached those observed in surface sediments (0.6 %). Turbidity profiles made in the region demonstrated the existence of a bottom nepheloid layer, several hundred meters thick, and related to the resuspension of bottom sediments. These observations support the view that open-ocean deep convection events in the Gulf of Lions can cause significant remobilization of sediments in the deep outer margin and the basin, with a subsequent alteration of the seabed likely impacting the functioning of the deep-sea ecosystem.

Particle Size Analysis of Pharmaceutical Powders by Laser Diffraction

Raaka-aineen hiukkaskoko on lääkekehityksessä keskeinen materiaaliparametri. Lääkeaineen partikkelikoko vaikuttaa moneen lääketuotteen tärkeään ominaisuuteen, esimerkiksi lääkkeen biologiseen hyväksikäytettävyyteen. Tässä diplomityössä keskityttiin jauhemaisten lääkeaineiden hiukkaskoon määrittämiseen laserdiffraktiomenetelmällä. Menetelmä perustuu siihen, että partikkeleista sironneen valon intensiteetin sirontakulmajakauma on riippuvainen partikkelien kokojakaumasta. Työn kirjallisuusosassa esiteltiin laserdiffraktiomenetelmän teoriaa. PIDS (Polarization Intensity Differential Scattering) tekniikka, jota voidaan käyttää laserdiffraktion yhteydessä, on myös kuvattu kirjallisuusosassa. Muihin menetelmiin perustuvista analyysimenetelmistä tutustuttiin mikroskopiaan sekä aerodynaamisen lentoajan määrittämiseen perustuvaan menetelmään. Kirjallisuusosassa esiteltiin myös partikkelikoon yleisimpiä esitystapoja. Työn kokeellisen osan tarkoituksena oli kehittää ja validoida laserdiffraktioon perustuva partikkelikoon määritysmenetelmä tietylle lääkeaineelle. Menetelmäkehitys tehtiin käyttäen Beckman Coulter LS 13 320 laserdiffraktoria. Laite mahdollistaa PIDS-tekniikan käytön laserdiffraktiotekniikan ohella. Menetelmäkehitys aloitettiin arvioimalla, että kyseinen lääkeaine soveltuu parhaiten määritettäväksi nesteeseen dispergoituna. Liukoisuuden perusteella väliaineeksi valittiin tällä lääkeaineella kyllästetty vesiliuos. Dispergointiaineen sekä ultraäänihauteen käyttö havaittiin tarpeelliseksi dispergoidessa kyseistä lääkeainetta kylläiseen vesiliuokseen. Lopuksi sekoitusnopeus näytteensyöttöyksikössä säädettiin sopivaksi. Validointivaiheessa kehitetyn menetelmän todettiin soveltuvan hyvin kyseiselle lääkeaineelle ja tulosten todettiin olevan oikeellisia sekä toistettavia. Menetelmä ei myöskään ollut herkkä pienille häiriöille.