Word: ericssons
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...promises to be a bonanza for a large part of Swedish industry. Though the Swedish air force has traditionally acted as its own prime contractor on planes, Saab will perform that role for the Viggen and is now letting out subcontracts to 1,500 other Swedish firms. L. M. Ericsson, Sweden's aggressive manufacturer of telephone equipment, will be responsible for the Viggen's radar, Standard Radio (a Swedish subsidiary of International Telephone and Telegraph) will make the operations control system, and Svenska Flygmotor will build the souped-up JT8D engine under license from Pratt & Whitney. Slated...
Swindler's Sellout. Founded by Swedish Tinkerer Lars Magnus Ericsson 86 years ago, Ericsson Telephone has had a troubled history: Super-Swindler Ivar Krueger, who got control of the company in the late 1920s, sold off his interest in 1931 to Ericsson's archrival, the U.S.'s International Telephone & Telegraph Co. This evoked patriotic outcries in Sweden and led to the intervention of the brothers Marcus and Jacob Wallenberg, who between them head the boards of 24 Swedish companies with combined sales of $1.6 billion. Aided by a law that prohibits foreign control of Swedish firms, Marcus...
Shrewd Banker Wallenberg, however, has restricted himself to overseeing Ericsson's finances. To handle company operations, he brought in as president Sven Ture Aberg, 58, an imperturbable electrical engineer who negotiates with uncommon skill in five languages (Swedish, English, Spanish, French and German...
National Duty. Sven Aberg has "undiversified" Ericsson by selling off most of the telephone operating companies it once owned overseas. "Foreigners never get a fair return from the rate setters," he shrugs. Instead, he has concentrated on expanding Ericsson's equipment sales abroad. "For a company in a small country which depends on exports," he says, "this is a national duty...
Aberg attributes Ericsson's success abroad to "good products and long patience." Ericsson's laboratories are famed for their imaginative designs-among them the "thinking" switchboard (which automatically repeats a call a little later if the first try gets a busy signal) and the Ericofon, a telephone that has earpiece, mouthpiece and dial all in one unit. Ericsson's salesmen have spent as long as six years in a new country making their pitch and landing their first contract. Each year the company brings nearly 100 foreign engineers to Stockholm to train them...