In more recent times, Kalmar has been an industrial city with Kalmar Verkstad making steam engines, trains and large machinery, later bought by Bombardier who closed the factory in 2005. A shipyard, Kalmar Varv, was founded in 1679 and closed 1981. Volvo opened their Kalmar factory for building cars i.e. 264, 740, 760, 960 in 1974, but closed it 1994 and due to further relocation of industry jobs in the 1990s and 2000s around 2000 industrial jobs were lost. Kalmar has a university with over 9,000 students and a research facility for Telia Sonera.