Ukraine war flips Sweden's Hagglunds fortunes from layoffs to billions [Yahoo! Finance]
BAE SYSTEMS PLC S/ADR (BAESY)
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Source: Yahoo! Finance
one of Europe's fastest-growing weapons hubs, a shift visible nowhere more clearly than ?in the tiny northern town of Ornskoldsvik, home to armoured vehicle maker Hagglunds. Owned by British defence giant ?BAE Systems since 2004, Hagglunds began as a family business making furniture in the late 19th century before moving on to buses, trams, planes ?and eventually, armoured vehicles in the 1950s. Post-Cold War demilitarisation left the company struggling, and when Tommy Gustafsson-Rask became managing director of BAE Systems Hagglunds in 2012, his first order of duty was to cut a third of the workforce. 'IT ALL TOOK OFF' JUST BEFORE 2022 "I think the 2014 annexation of Crimea was when we saw something starting to happen," he told ?Reuters at the Hagglunds test track in ?Ornskoldsvik, adding that it all took off just before Russia's 2022 invasion of Ukraine. "From having a typical order book of a couple of hundred million U.S. dollars, we're now at 8 ?billion U.S. dollars. So
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