Volvo Decides Not to Sell Government Sales Operation
October 17 2017 - 12:59PM
Dow Jones News
By Adam Clark
Volvo AB (VOLV-B.SK) said Tuesday that it has decided to abandon
the planned divestment of its government sales unit, saying the
offers it has received do not reflect its value.
The Swedish truck maker said the operation has a strong order
book and accounts for 1.5% of its total sales. The business has
1,300 employees, the majority in France, and sells specially
designed vehicles to governments, the defense industry and aid
organizations.
Shares in Stockholm closed down 1.70 kronor, or 1.1%, at 153.20
kronor on Tuesday.
Write to Adam Clark at adam.clark@dowjones.com
(END) Dow Jones Newswires
October 17, 2017 12:44 ET (16:44 GMT)
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