1936. In December, three friends - Robert von Horn, Wilhelm Klingspor and Hugo Stenbeck - form a company with the aim of investing in and managing shares. They call it Investmentaktiebolaget Kinnevik. Its key assets are shares in Mellersta Sveriges Lantbruks AB, AB Lidköpings Konfektyr Industri and Korsnäs Sågverks AB.
1937. By now, Kinnevik has acquired shares in several more companies. Its first acquisition is made at the beginning of the year, in the form of the chocolate manufacturer, Nordiska Suchard. The company has a factory in Alingsås and a licensing contract with the Swiss Suchard company. This is also the year in which Kinnevik and its associates take over the ownership of Halmstads Järnverk, an iron foundry.
1940s. Substantial shareholdings are acquired over this period in de Lavals Ångturbin, Marma-Långrör and Ställbergs Grufve Aktiebolag. The investment in Korsnäs is also steadily expanded.
1950s. The early fifties see the acquisition of shares in Auto-Marin (Robert Bosch AB), Höganäs-Billesholm and Partner. Several large shareholdings in Kinnevik are offered for sale and are acquired by Hugo Stenbeck, significantly increasing his holding in the company.
1954. When the company is listed on the stock market. The board decides on a bonus issue and a new subscription. The share capital is now SEK 20 million and the company’s assets according to the balance sheet total just over SEK 35 million.
1958. Sandvikens Jernverk launches a new share issue and Kinnevik acquires just over 17,000 shares. Further share purchases soon give Kinnevik/Korsnäs control over the company, which together with Coromant becomes a world leader in tungsten.
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1960. An agreement is signed to co-ordinate the businesses of Korsnäs and Marma-Långrör. Korsnäs takes over all Marma-Langrör shares.
1962. Hugo Stenbeck succeeds Wilhelm Klingspor as Chairman of the Board of Kinnevik. A year later, Stenbeck hands over the presidency to his eldest son, Hugo Stenbeck Jr, a lawyer. Responsibility for the company’s future now rests squarely on the shoulders of the Stenbeck father-and-son team.
1963. The state commission in charge of investigating concentration in Swedish industry (Koncentrationsutredningen) reports that Kinnevik and its associated companies have 17,000 employees.
1964. The company acquires shares in Amerikanska Motor Importen (Motorami, the General Motors representative). |
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1960. An agreement is signed to co-ordinate the businesses of Korsnäs and Marma-Långrör. Korsnäs takes over all Marma-Langrör shares.
1962. Hugo Stenbeck succeeds Wilhelm Klingspor as Chairman of the Board of Kinnevik. A year later, Stenbeck hands over the presidency to his eldest son, Hugo Stenbeck Jr, a lawyer. Responsibility for the company’s future now rests squarely on the shoulders of the Stenbeck father-and-son team.
1963. The state commission in charge of investigating concentration in Swedish industry (Koncentrationsutredningen) reports that Kinnevik and its associated companies have 17,000 employees.
1964. The company acquires shares in Amerikanska Motor Importen (Motorami, the General Motors representative). |
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