Svenska Varv
AB was a Swedish
state-owned company
A state-owned enterprise (SOE) is a Government, government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn Profit (econom ...
that was founded in 1977. It was formed to liquidate the many unprofitable assets of the Swedish shipbuilding industry which experienced a major financial crisis during 1969–1985 due to competition from the Far East as well as the effects of the
1973 oil crisis
The 1973 oil crisis or first oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries (OAPEC), led by Saudi Arabia, proclaimed an oil embargo. The embargo was targeted at nations that had supp ...
. The company originally consisted of
Götaverken
Götaverken was a shipbuilding company that was located on Hisingen, Gothenburg. During the 1930s it was the world's biggest shipyard by launched gross registered tonnage. It was founded in 1841, and went bankrupt in 1989.
History
The company w ...
,
Uddevallavarvet and
Karlskronavarvet. Later,
Eriksberg,
Finnboda,
Kockums
Saab Kockums AB is a shipyard headquartered in Malmö, Sweden, owned by the Swedish defence company Saab Group. Saab Kockums AB is further operational in Muskö, Docksta, and Karlskrona. While having a history of civil vessel construction, Koc ...
,
Karlskronavarvet and
Öresundsvarvet
Öresundsvarvet was a Swedish shipyard in Landskrona that was established in 1915 and largely phased out between 1980 and 1982.
Foundation
Öresundsvarvet was constituted on 16 December 1915 by Gothenburg shipbuilder, Arthur Du Rietz. During a ...
joined the company. In 1987 the company changed its name to Celsius AB and became a
defence contractor
The arms industry, also known as the arms trade, is a global industry which manufactures and sells weapons and military technology. It consists of a commercial industry involved in the research and development, engineering, production, and serv ...
after all of the major shipbuilding wharfs were successfully closed down. Celsius AB was listed on the
Stockholm Stock Exchange
Nasdaq Stockholm, formerly known as the Stockholm Stock Exchange ( sv, Stockholmsbörsen), is a stock exchange located in Frihamnen, Stockholm, Sweden. Founded in 1863, it has become the primary securities exchange of the Nordic countries. As o ...
in 1993, and was acquired by
Saab AB
Saab AB (originally , later just SAAB and Saab Group) is a Swedish aerospace and defence company, founded in 1937. Headquartered in Stockholm, the development and the manufacturing is undertaken in Linköping. Saab produced automobiles from 194 ...
in 1999.
{{Authority control
Defunct companies of Sweden