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David Modig

EY World Entrepreneur Of The Year Class of 2021, Sweden

David Modig, President of Modig Machine Tool AB

David Modig brought machinery business Modig back from the brink and took it to new heights.

Photographic portrait of David Modig

David Modig

Modig Machine Tool is not just a business to David Modig — it’s part of his family’s history. Founded in 1947 by David’s grandfather, the company designs and produces machinery for the automotive and aerospace industries. Today the business is one of the world’s leading machine suppliers and counts a leading aerospace company as one of its largest customers.

David grew up playing on the factory floor and learned the business at an early age. He worked his way up through the company and became President in 2011. But his leadership skills had already been put to the test when Modig faced bankruptcy after the 9/11 terrorist attacks. Orders for the company’s products stopped for 16 months, and David had to let all 160 employees go. He and his dad were the only two employees until an order from a leading aircraft maker saved Modig from financial ruin.

Today, the company still operates in the small town of Virserum, with headquarters in Kalmar, and has sold over 11,000 machines worldwide. David designs the machines himself, and each design is adapted to the customer’s individual requirements. The team is currently working on new machinery for the electric vehicle market, and the company has opened a US office in Kansas.