Word: gyllenhammar
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Dates: during 1970-1979
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...exchange for cars, oil for the pumps of Sweden " We are leaving the defensive role Wand going on the offensive," declared Pehr Gyllenhammar, president of Volvo, Sweden's troubled giant (1977 sales: $3.6 billion). On that confident note, he announced last week a bold and imaginative reorganization that in one stroke will supply the automaker with urgently needed cash, give Sweden access to North Sea oilfields and bring in Norway as an energetic junior partner in a new binational corporation. The Norwegians, eager to use their oil riches to develop high-technology industries, called Gyllenhammar's proposal...
...first Gyllenhammar hoped to beat Swedish inflation by opening an assembly plant in Chesapeake, Va. Volvo's declining U.S. sales, off 23% since 1975, forced an indefinite postponement of full-scale production. Next, the young...
...larger company (1976 sales: $3.6 billion), Volvo will be the main partner, with 66% of the voting shares. Volvo's dynamic Pehr Gyllenhammar will be president, and Saab-Scania's Curt Mileikowsky will be executive vice chairman. Saabs aircraft division, which makes the Viggen jetfighter, will be part of the new company...
...that it is widely abused. In addition to days when he himself is ill, a father of three children, for example, by law gets 18 paid sick days to allow him to be at home when one or more of his children is bedridden. Says Volvo President Pehr G. Gyllenhammar: "It is no longer a question of whether individual Swedes can afford to be sick and still receive pay, because this is an obvious right. It is a question of the country's ability to pay for the level of absenteeism we have reached...
...Gyllenhammar remains convinced that Kalmar will work. "We think the extra capital involved will be offset by increased productivity," he says. Still, Gyllenhammar is a prudent manager, and Volvo is prepared to adapt if the Kalmar experiment fails. The plant was designed in such a way that it can be re-converted into a conventional assembly line at a minimal cost...