Our story begins with Herman Saastamoinen, who founded a general store in Kuopio in 1876. Over the years, the store grew into a successful multi-sector company operating in wood processing, metal industry, as well as wholesale and retail trade.
Herman’s business empire was inherited by his three sons: Armas, Yrjö, and Onni Saastamoinen. In the 1950s and 1960s, Onni’s daughter Liisa (née Saastamoinen) and her husband Osmo P. Karttunen became the third generation to lead the company. Together, they founded Saastamoinen Foundation in 1968. The family name lives on through the Foundation, which is still led by Liisa and Osmo P. Karttunen's direct descendants and their families.
Herman Saastamoinen. Photo: Aug. Schuffert.
The opening of the Saimaa Canal in 1856 heralded significant improvement for trade and industry in Eastern Finland, for it provided a direct sea connection to Vyborg and the world beyond. The opening of the canal triggered brisk economic activity throughout Savonia and when towns in Eastern Finland were allowed to engage in international trade, the opportunities for growth seemed virtually unlimited. At the turn of the decade, many young people from remote, hunger-stricken areas came to Kuopio dreaming of becoming merchants.
Among them was a young Herman Saastamoinen, who left his home in Vuonamo, Pielavesi, to look for work in Kuopio. As he worked as an assistant in Christian Hiltunen’s shop, the idea of a career in commerce gradually took hold. With that goal in mind, he taught himself to read, write, keep accounts, and understand trade regulations. His dream became reality in 1876, when he bought J. P. Lappalainen’s stock and shop located on the Kuopio market square. And so, the Saastamoinen family business was born.
From Family Business to Family Foundation
Saastamoinen Foundation has its roots in the assets of the family-owned company Saastamoinen Oy. The business, founded by Commercial Counsellor Herman Saastamoinen in 1876, became the most prominent Kuopio-based enterprise of the 20th century.
From its humble beginnings as a small general store on the corner of Kuopio’s market square, the company grew into an international multi-sector business involved in mechanical forest industry as well as wholesale and retail trade. Herman’s business empire was inherited by his three sons: Armas, Yrjö, and Onni Saastamoinen.
In Finland, Saastamoinen is remembered especially for operating the world’s largest thread spool factory, the production of Sasmox board, and the well-known “Hermannin herkku” wheat flour. Members of the family also served in the Finnish Government, Parliament, Foreign Service, and held numerous positions of trust in various companies, organizations, and associations.
After reaching a century of operations, the family company ceased business in 1996. Its legacy continues through Saastamoinen Foundation, established in 1968 by Herman Saastamoinen’s granddaughter Liisa Karttunen (née Saastamoinen) and her husband Osmo P. Karttunen, with the mission of advancing Finnish society through science and the arts.
Syvänniemi factory in the 1920’s. Photo: ELKA.
