Sweden is the third largest country in the European Union by area. It has emerged from very strong local industries having base in natural resources of water, forests and iron ores. Some of the leaders in the industry evolved from these traditional sectors and slowly graduated to more niche technology areas of automobiles, R&D and Core engineering.
In the early 90's, Swedish market witnessed a major change with the emergence of new industries including information technology and pharmaceuticals, which got more highlighted compared to traditional engineering industries as the next generation of focus for growth and stability.
It is during this change over that some core industry sectors, like textiles and iron lost its business acumen while others specially the ship-building more or less disappeared. However restructuring of markets in Sweden been one of the steady examples that is followed by most even today. There has never been a situation of economic or social instability.
By the end of another decade (starting 2000), some of the major industry players in areas of information technology, automobiles, electrical & electronics, communication systems, pharma, precision equipments,steel manufacturers, furnishing brands and food processing specialists set base locally and took charge by being the stimulators for next generation diversification.
Most of the new players who started off where small in size. But the fact that Sweden accounts for 29 of the top 500 largest companies in Europe, is a fact on paper and Sweden today is perhaps the highest number per capita in the world. Some of the Swedish names are known world over for being the most sophisticated and technology based innovative engineering companies. This includes Volvo, Saab, Scania, Electrolux, SKF, and ABB among several others
Volvo known for its cars and innovative new models shifted gears to capture on to the emerging commercial transport sector and towards end of the 90's it acquired 75 percent of Scania, the second major Swedish truck maker. Volvo today cherishes being the world's largest manufacturers of heavy vehicles.
Vijesh Sivadasan
Sr. Manager - Strategic Accounts
Tooltech Global Engineering Pvt. Ltd.
vs@tooltech.net
In the early 90's, Swedish market witnessed a major change with the emergence of new industries including information technology and pharmaceuticals, which got more highlighted compared to traditional engineering industries as the next generation of focus for growth and stability.
It is during this change over that some core industry sectors, like textiles and iron lost its business acumen while others specially the ship-building more or less disappeared. However restructuring of markets in Sweden been one of the steady examples that is followed by most even today. There has never been a situation of economic or social instability.
By the end of another decade (starting 2000), some of the major industry players in areas of information technology, automobiles, electrical & electronics, communication systems, pharma, precision equipments,steel manufacturers, furnishing brands and food processing specialists set base locally and took charge by being the stimulators for next generation diversification.
Most of the new players who started off where small in size. But the fact that Sweden accounts for 29 of the top 500 largest companies in Europe, is a fact on paper and Sweden today is perhaps the highest number per capita in the world. Some of the Swedish names are known world over for being the most sophisticated and technology based innovative engineering companies. This includes Volvo, Saab, Scania, Electrolux, SKF, and ABB among several others
Volvo known for its cars and innovative new models shifted gears to capture on to the emerging commercial transport sector and towards end of the 90's it acquired 75 percent of Scania, the second major Swedish truck maker. Volvo today cherishes being the world's largest manufacturers of heavy vehicles.
Vijesh Sivadasan
Sr. Manager - Strategic Accounts
Tooltech Global Engineering Pvt. Ltd.
vs@tooltech.net
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