He founded the firm "Högbo Stål &amp; Jernwerks AB" on 31 January 1862 in Sandviken, Sweden and presented the now commercially viable Bessemer process at the International Exhibition in London. However, Göransson and the company entered into receivership in 1866 due to bad capital resources. In 1868, the company was acquired and reconstructed into "Sandvikens Jernverks AB" with his eldest son, Anders Henrik Göransson as managing director and Per Murén as chairman. The firm was able to quickly expand in large foreign industrial markets such as Germany, Great Britain and the United States mainly due to Göransson's extensive connections abroad, cultivated during his time as general manager in Elfstrand &amp; Co. Göransson would succeed Murén as the company's chairman in 1883.