Necessity is the mother of invention and, in 1987, financial difficulties at KONGSBERG led to a major step in our development.
What at first seemed to weaken the organisation, actually led to long-term stability, as we renewed our focus on core defence activities for a short period – helping us to regain financial stability – before once again turning to the civilian and maritime sectors.
New CEO Jan T Jørgensen was the driving force behind this revitalisation implementing a regime of strict financial and quality control, while targeting significant productivity increases across all business areas. The confidence our customers retained in our technical abilities, industry expertise and reliability helped us to once again concentrate on growing the business.
The Fall of the Berlin Wall marked the end of the cold war and renewed our focus on civilian markets.
Kongsberg Space Business was founded in 1990 (illustrational photo of Ariane 5)
Maritime Systems was founded in 1992
As part of the corporate revitalisation, KONGSBERG underwent a radical restructuring process. In the six years from 1987 to 1993 a new company emerged, where profitability was prioritised and fresh directions were explored. Part of this strategy was listing the business on the Oslo Stock Exchange for the first time, giving us greater independence from the government and allowing us to develop our proposition in tandem with private business investors. This decision proved to be a crucial building block in the creation of the modern day KONGSBERG.
Oslo Stock Exchange
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