The modern corporate structure was created in 1873 with the foundation of Aktiebolaget (AB) Bofors-Gullspång. A leading Swedish steel producer by the early 1870s, when steel began to be used for gun manufacture in Sweden, Bofors initially sold cast and forged steel produced by the Siemens-Martin process to Finspång gun works, but soon started to expand into weapons manufacture.
The modern corporate structure was created in 1873 with the foundation of Aktiebolaget (AB) Bofors-Gullspång. A leading Swedish steel producer by the early 1870s, when steel began to be used for gun manufacture in Sweden, Bofors initially sold cast and forged steel produced by the Siemens-Martin process to Finspång gun works, but soon started to expand into weapons manufacture.
The company's first cannon workshop was opened in 1884.
Bofors' most famous owner was Alfred Nobel, who owned the company from 1894 until his death in December 1896.
Bofors' most famous owner was Alfred Nobel, who owned the company from 1894 until his death in December 1896.
The powder manufacturer AB Bofors Nobelkrut, later an explosives and general organic-chemical producer, was created in 1898 as a wholly owned subsidiary.
By 1911, AB Bofors-Gullspång had outcompeted, bought and closed down its Finspång Swedish competitor in cannon manufacture.
The company's name was shortened to AB Bofors in 1919. ==Present ownership== In 1999, Saab AB purchased the Celsius Group, then the parent company of Bofors.
In 1987, Swedish Radio alleged that Bofors paid illegal commissions of to top Indian politicians, members of the Congress party and key defence officials to seal the deal.
The company's name was shortened to AB Bofors in 1919. ==Present ownership== In 1999, Saab AB purchased the Celsius Group, then the parent company of Bofors.
In September 2000, United Defense Industries (UDI) of the United States acquired Bofors Weapons Systems (the heavy weapons division), while Saab retained the missile interests. BAE Systems acquired UDI and its Bofors subsidiary in 2005, and BAE Systems Bofors is now a business unit of BAE Systems AB; Saab Bofors Dynamics is a unit of Saab AB. ==Products== The name Bofors is strongly associated with the 40 mm anti-aircraft gun used by both sides during World War II.
In September 2000, United Defense Industries (UDI) of the United States acquired Bofors Weapons Systems (the heavy weapons division), while Saab retained the missile interests. BAE Systems acquired UDI and its Bofors subsidiary in 2005, and BAE Systems Bofors is now a business unit of BAE Systems AB; Saab Bofors Dynamics is a unit of Saab AB. ==Products== The name Bofors is strongly associated with the 40 mm anti-aircraft gun used by both sides during World War II.
All text is taken from Wikipedia. Text is available under the Creative Commons Attribution-ShareAlike License .
Page generated on 2021-08-05