26 Jan '13, 12pm

Volvo Group to acquires 45% of Dongfeng Commercial Vehicles for $900M; Volvo to become world’s largest manufacturer...

Volvo Group to acquires 45% of Dongfeng Commercial Vehicles for $900M; Volvo to become world’s largest manufacturer of heavy-duty trucks 26 January 2013 China is the world’s largest truck market. Click to enlarge. AB Volvo has signed an agreement with the Chinese vehicle manufacturer Dongfeng Motor Group Company Limited (DFG) to acquire 45% of a new subsidiary of DFG, Dongfeng Commercial Vehicles (DFCV), which will include the major part of DFG’s medium- and heavy-duty commercial vehicles business. Completion of the transaction will make the Volvo Group the world’s largest manufacturer of heavy-duty trucks with a combined annual volume (2011) of 326,000 HD trucks and 98,000 MD trucks. The purchase price is RMB 5.6 billion (US$900 million); completion is expected to take place within approximately 12 months. Volvo’s transaction with DFG follows an agreement between DFG and ...

Full article: http://www.greencarcongress.com/2013/01/volvo-20130126.html

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