Bofors

Bofors AB is a Swedish arms manufacturing company. The name has been associated with the iron industry and artillery manufacturing for more than 350 years.

History

Located in Karlskoga, Sweden, the company originates from the hammering trip hammer mill "Boofors", which was founded as a royal state-owned company in 1646. The modern corporate structure was created in 1873 with the foundation of Aktiebolaget (AB) Bofors-Gullspång as a totally government-owned public company. A leading Swedish steel producer by the early 1870s, Bofors expanded into weapons manufacture when steel produced by the Siemens-Martin process began to be used for gun manufacture. Bofors was divested by the late 1880s, with the government retaining a small share and two members on the highest body. 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. Nobel played the key role in reshaping the former iron and steel producer to a modern cannon manufacturer and chemical industry participant. 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.