Saab AB
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Saab AB (originally About this soundSvenska Aeroplan AB, later just SAAB and Saab Group) is a Swedish aerospace and defence company, founded in 1937. Saab produced automobiles from 1947 until 1990 when the automobile division was spun off as Saab Automobile, a joint venture with General Motors. The joint venture ended in 2000 when GM took complete ownership. Between 1968 and 1995 the company was in a merger with commercial vehicle manufacturer Scania-Vabis, known as Saab-Scania. The two were de-merged in 1995 by the new owners, Investor AB. Despite the demerger, both Saab and Scania share the right to use the griffin logo,[2] which originates from the coat of arms of the Swedish region of Scania.[3]
“Svenska Aeroplan AktieBolag” (Swedish for “Swedish Aeroplane Company Limited”) (SAAB) was founded in 1937 in Trollhättan,[4] with the merger of Svenska Aero AB (SAAB) and Linköping based ASJA[5] the headquarters moved to Linköping. The style “Saab” replaced “SAAB” around 1950.[5]
The basic initial development was the problems for the Swedish government to get quality military aircraft delivered at the beginning of the Second World War. The final trigger was the inability to get a large number of Seversky P-35 delivered from the United States. From then on the Swedish government focused on establishing domestic production and development of military aircraft and Saab took that challenge. A policy that has continued to this day.
Originally manufacturing aircraft, the company sought ways in which to diversify its business. Before the Second World War, a majority of cars in Sweden were imported from the United States. The US car manufacturers have been producing tanks during the war, and the US domestic market took all the US car production in the late 1940s. Hence there was a large supply shortage of private cars in Europe and Sweden, and buyers were facing waiting lists of years on new cars. In the late 1940s, Saab began manufacturing cars at its Saab Automobile division, based in Trollhättan. The first car was the Saab 92; full-scale production started 12 December 1949, based on the prototype Ursaab.[6]
In the late 1950s Saab ventured into the computer market with Datasaab.[4] The company was a result partly of the need to make a computer that would be small enough to mount in an aeroplane as navigational equipment. During the 1960s several computers were developed and sold to European countries, for uses such as banking. The aircraft computer (CK 37) was used in 1971 in the Viggen. The company was sold in 1975 to Sperry UNIVAC, while Saab retained its flight computer development.
In May 1965, the company name was changed to Saab AB to reflect its broad range of activities.[5]
In 1968 Saab AB merged with the Swedish lorry, bus and heavy-duty diesel engine manufacturer Scania-Vabis,[7] and became Saab-Scania AB.
In 1990 General Motors bought 51% of the car division Saab Automobile, and acquired the rest a decade later.
In 1991 Investor AB completed a leveraged buyout of Saab-Scania AB. Investor AB acquired all the outstanding shares in Saab-Scania for approximately SEK 21 billion.[8][9][10] Saab-Scania became a wholly owned subsidiary of Investor AB and the company was de-listed.[11]
In 1995 Saab-Scania was divided by Investor AB into two independent companies, de-merging into Scania AB and Saab AB. The intention by Investor AB was to broaden ownership in the two companies later.[12] Following the sale of 50% of the car division Saab Automobile AB to General Motors, the main reason behind the merger with lorry manufacturer Scania-Vabis in 1968 had disappeared.
Also in 1995 Saab Military Aircraft and British Aerospace (now BAE Systems) formed the joint venture company Saab-BAe Gripen AB, to manufacture, market and support Gripen internationally. This co-operation was extended in 2001 with the formation of Gripen International for the same purpose.[13] From 1998 until 2005 British Aerospace/BAE was the largest shareholder in Saab following its acquisition of a 35% stake from Investor AB. In January 2005, BAE Systems reduced its shareholding to 20%. Investor AB maintained a 20% share.
16 November 1999, Saab announced its intention is to purchase Celsius AB and the acquisition was concluded by early March 2000.[14]
In September 2000 United Defense Industries (UDI) purchased Bofors Weapon Systems from Saab (the autocannon and tube artillery interests), while Saab retained the missile interests.
In December 2005 Saab joined the Dassault nEUROn project as a major partner.
In October 2008 the company announced its intention to merge its operations with that of Simrad Optronics. The new unit will develop high-tech optronics products and will be headquartered in Norway, although other details of the new arrangement have not been finalized.[15]
In 2010 the company restructured from fifteen business units into five business areas; Aeronautics, Dynamics, Electronic Defence Systems, Security and Defence Solutions, and Support and Services. According to Saab the restructuring was undertaken to become more market and customer oriented.[16]
In March 2010, BAE Systems sold half of its 20% stake in the company to Investor AB, which then became the major shareholder.[17] In June 2011, the British company sold its remaining stake bringing its 16-year involvement in Saab to an end.[18]
As of August 2020, Investor AB owns a 30.16% stake in the company (39.69% of the voting rights) and is the top owner.[19]
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