Saab Group

Saab Group (originally SAAB, later Saab AB) is a Swedish aerospace and defence company, founded in 1937. From 1947 to 1990 it was the parent company of automobile manufacturer Saab Automobile. and between 1968 and 1995 the company was in a merger with commercial vehicle manufacturer Scania-Vabis, known as Saab-Scania. History "Svenska Aeroplan AB (aktiebolag)" (Swedish for "Swedish Aeroplane Company Limited") (SAAB) was founded in 1937 in Trollhattan,[2] with the merger of Svenska Aero AB (SAAB) and Linkoping based ASJA[3] the headquarters moved to Linkoping. The style "Saab" replaced "SAAB" around 1950.[3] Originally manufacturing aircraft, the company sought ways in which to diversify its business. In the late 1940s the company began manufacturing cars at its Saab Automobile division was based in Trollhattan. The first car was the Saab 92; full-scale production started December 12, 1949, based on the prototype Ursaab.[4] In the late 1950s Saab ventured into the computer market with Datasaab.[2] 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.[3] In 1968 Saab AB merged with the Swedish lorry, bus and heavy-duty diesel engine manufacturer Scania-Vabis,[5] and became Saab-Scania AB. In 1990 General Motors bought 51 percent of the car division Saab Automobile, and acquired the rest a decade later. In 1991 Investor AB completed leveraged buyout of Saab-Scania AB. Investor AB acquired all the outstanding shares in Saab-Scania for approximately SEK 21 billion.,[6][7],.[8] Saab-Scania became a wholly owned subsidiary of Investor AB and t

e company was de-listed.[9] 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.[10] 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. Saab Military Aircraft and British Aerospace (now BAE Systems) formed in 1995 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.[11] From 1998 until 2005 the largest shareholder in Saab was the British aerospace company BAE Systems, following its acquisition of a 35% stake from Investor AB by its predecessor, British Aerospace. In January 2005, BAE Systems reduced its shareholding to 20%. Investor AB maintained a 20% share. 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.[12] 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.[13] In March 2010, BAE Systems sold half of its 20% stake in the company to Investor AB, which then became the major shareholder.[14] In June 2011, the British company eventually sold its remaining stake bringing its 16 year involvement in Saab to an end.[15] As of June 2012, Investor AB owns a 30% stake in the company (39.5% of the voting rights) and is the majority owner.