Transport Topics Online  
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
1/28/2013 1:30:00 PM Write a Letter to the Editor Write a letter to the Editor

Volvo Inks Truck Partnership With China’s Dongfeng


Dongfeng Motor Group truck — TT File Photo

Volvo AB signed an agreement with China’s Dongfeng Motor Group Co. to acquire 45% of a new commercial-vehicles subsidiary of the Chinese company for about $900 million.

The deal will include the major part of Dongfeng’s medium- and heavy-duty commercial vehicle business, known as Dongfeng Commercial Vehicles (DFCV), Volvo said in a statement Saturday.

“Combining Dongfeng’s strong domestic position and know-how with the Volvo Group’s technological expertise and global presence will offer [the venture] excellent potential for growth and profitability in and outside China,” Volvo’s CEO Olof Persson said.

In 2011, DFCV had net sales of about $6.3 billion and operating income of about $190 million, Volvo said, adding that DFCV has about 28,000 employees and sold 142,000 heavy-duty trucks and 49,000 medium-duty trucks in 2011.

By Transport Topics


Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2013, Transport Topics, American Trucking Associations Inc.
Reproduction, redistribution, display or rebroadcast by any means without written permission is prohibited.


  RELATED ARTICLES

 
LATEST NEWS



 
LATEST JOBS
Follow Us

Newsletters

TTExpress
This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.

Services

Advertising

EMU
iTech
© American Trucking Associations, Inc., All Rights Reserved TTNews.com Privacy Statement