Statsföretag was a Swedish government holding company and national wealth fund for more than 20 years.
The company was created by the Swedish Parliament to centralize and consolidate state ownership of public commercial assets especially within heavy industries such as shipyard, steel and forestry.
During the economic crisis of the 1970s in Sweden, several other assets were nationalized and the activities of the company became organized along multiple industrial segments.
After severe losses, the company was restructured in 1983 and renamed Procordia, with a number of industrial assets such as ASSI, LKAB and SSAB transferred and held directly by the Ministry of Industry In 1987, the company was partially privatized and the state participation reduced to 81%.
The government shares were held through the wholly owned national wealth fund Fortia and subsequently Stattum[1] In 1992, with the acquisition of Swedish Match the company was divided into two separate sub-holdings, being the pharmaceutical segment in Pharmacia and the food segment in Branded Consumer Products.