History
The company was established in 1814 as Kongsberg Vaabenfabrik (KV) (lit.: "Kongsberg Weapons Factory"), a name which remained virtually unchanged until 1987, when it took the name Norsk Forsvarsteknologi (NFT) (lit.: "Norwegian Defence Technology") after restructuring due to the sale of all civilian activity and financial troubles. The name changed again in 1995 to the present Kongsberg Gruppen following its listing on the Oslo Stock Exchange in 1993. In 1974, a Canadian subsidiary known as Kongsberg Mesotech Ltd was established for the development and manufacturing of underwater surveillance systems.
In 1987, the company was part of the Toshiba-Kongsberg scandal, which involved a subsidiary of Toshiba and the Kongsberg Vaapenfabrikk. The two provided the Soviet Union with technology (Toshiba milling machines and Kongsberg computer numerical controls) that could be used to produce quiet submarine propellers, in violation of the CoCom agreement. The US always relied on the fact that the Soviets had noisy boats. Providing the USSR with technology that could make their subs harder to find and track was perceived as a significant threat to America's security.
Read more about this topic: Kongsberg Gruppen
Famous quotes containing the word history:
“... all big changes in human history have been arrived at slowly and through many compromises.”
—Eleanor Roosevelt (1884–1962)
“Well, for us, in history where goodness is a rare pearl, he who was good almost takes precedence over he who was great.”
—Victor Hugo (1802–1885)
“It’s nice to be a part of history but people should get it right. I may not be perfect, but I’m bloody close.”
—John Lydon (formerly Johnny Rotten)