150 years as a modern company!
Today, the 22nd of November 2017 Husqvarna Ltd. celebrates its 150th anniversary as a joint-stock company.
Today’s Husqvarna PLC was founded as a government-owned small arms factory in Jönköping on the 15th of February 1620. It would be managed in its old, and increasingly unmodern, form as a manufacturing organisation for about 250 years. When, in the mid-19th century Sweden adopted its first corporation law, also the small arms factory would reorganise as a limited company; having developed into a society of “share-owners” from 1820.
This came into being in 1867 and the man behind the change was Hugo Tamm, owning the largest part of the old factory, aided by his father-in-law who owned a smaller part. On the 22nd of November 1867 the first Annual Grand Meeting was held, formally constituting the company: The Husqvarna Small Arms Company Ltd.
At this time the factory was completely devoted to military armament but as Sweden was – and still is! – in a prolonged period of peace, it meant that civilian production was necessary to stay in business. So in 1872 a sewing machine, The Northern Star (or The Cat’s Back as everybody called it!), was presented to the market.
In the mid-1950’s the company was introduced at the Stockholm Stock Exchange. In 1970 the first ever Swedish female company member was elected to the board, CEO Lil Wettergren, Pauliströms Bruk Ltd. She is perhaps mostly known as being the inventor of children’s diapers made by paper. And in 1973 the first representatives of the employees was admitted to the company board: K-G Axelsson for the officials and Våge Bolin for the workers.
The rest is history as we tend to say. The Husqvarna company would with time expand the civilian side of business and is today a major manufacturer of motorised garden-, forest- & construction products.News archive