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The ESAB Group restructuring the European welding industry

In: International Turnaround Management

Author

Listed:
  • Bo Arpi
  • Per Wejke

Abstract

During the late 1970s, the Gothenburg-based ESAB welding company became so unprofitable that it was threatened by split-up or bankruptcy. Underlying driving forces included: 1. the disappearance of the demand for manual welding products from European shipyards and a subsequent decline in oil rig production 2. a gradual switch from manual welding techniques to more advanced (semi-automatic, fully automatic, and robotic) techniques1 3. in the area of solid wire, ESAB met new competitors, namely the steel works ‘integrating forward’ 4. the abolition of a ‘stocking subsidy’ paid by the Swedish state to counteract business cycles.

Suggested Citation

  • Bo Arpi & Per Wejke, 1999. "The ESAB Group restructuring the European welding industry," Palgrave Macmillan Books, in: International Turnaround Management, chapter 0, pages 265-293, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-28885-0_10
    DOI: 10.1057/9780230288850_10
    as

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