Saab AB is an aviation and defense company based in Sweden and founded in 1937 in Trollhättan. Its name was an acronym for “Svenska Aeroplan Aktiebolaget” (translates to Swedish Aeroplane Limited), thus written as “SAAB”. In 1939 Saab merged with the Linköping based ASJA and the headquarters moved to Linköping. During changes in company ownership in the 1990s, the company name became Saab AB.
Originally manufacturing airplanes, the company sought ways in which to diversify its business and in the late 1940s started to manufacture Saab Automobiles. The automobile division was based in Trollhättan. The first car was the Saab 92001 on June 10, 1947. The company soon developed a reputation for safe and reliable automobiles, with a notable competition history.
In the late 1950s Saab ventured into the computer market with DataSAAB.
In 1969 Saab merged with the truck maker Scania-Vabis, and between 1969 and 1995 the company was called Saab-Scania AB. General Motors bought 51 percent of the automobile division Saab Automobile in 1990, and acquired the rest a decade later.
Since 1998 the British aerospace company BAE Systems has been the largest shareholder in Saab following its acquisition of a 35% stake from Investor AB by its predecessor, British Aerospace. In January 2005 BAE reduced its shareholding to 20%, which it views as a long term interest. Investor AB also maintains a 20% share.
Source: Wikipedia
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Tags: Saab, Saab AB, airplanes, Automobile, truck, General Motors
Categories: Saab
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