Volvo Aero

Volvo Aero was a Swedish aircraft, guided missiles and rocket engine manufacturer. It became GKN Aerospace Engine Systems following the company's acquisition by British engineering conglomerate GKN during 2012. It was originally established as Nohab Flygmotorfabriker AB in 1930 to produce aero engines. The firm became a part of SAAB during 1937; Volvo later purchased most of the stock, thus it was renamed Svenska Flygmotor AB (SFA) and later Volvo Flygmotor. It became the major engine supplier of the Swedish Air Force during the post-war period. During the 1970s, Volvo Flygmotor branched into the commercial aerospace sector, offering overhauls and subcomponent production for several international engine manufacturers, as well as into the European space sector. During the 2000s, Volvo Aero focused on cooperative ventures with various partner companies around the globe. As a result of the Great Recession, Volvo Aero experienced a sustained downturn in business, resulting in layoffs and contributing to the firm's sale. Parent company Volvo decided to sell their aerospace division amid the economic downturn; GKN emerged amongst several bidders as the frontrunner, finalising its purchase of Volvo Aero during 2012.