Volvo Buses Has Sold Body Plant in Turku
October 01 2008 - 2:16AM
Business Wire
Regulatory News: Volvo Buses has sold the body plant in Turku,
Finland. The sale is part of the company's efforts to enhance the
efficiency of the European operations. The plant in Turku produces
bodies for the Volvo 9700 model. The Turku plant is the smallest
plant within Volvo Buses, primarily producing for the Nordic
markets. During 2007, 160 bodies were produced. The company has
determined that it is more efficient to sell the plant and purchase
bodies from the new owner. The new owner will also continue to,
under licence, produce the Volvo 9700 for Nordic customers. Volvo
Buses will keep the commercial responsibility for the Volvo 9700.
The buyer consists of a group of private Finnish investors and
managers from Volvo Buses in Finland. The buyers are taking over
the plant, including personnel, as from October 1. Today there are
about 300 employees in the plant. The divestiture of the assets is
made at book value and will not have a material impact on the
earnings or the financial position of the Volvo Group. October 1,
2008 Volvo Bus Corporation is one of the world's largest
manufacturer of large buses and coaches. The range comprises
complete vehicles, chassis, bus bodies, transport system solutions
for metropolitan traffic, leasing, financing and service contract
maintenance. Volvo Bus Corporation is part of the Volvo Group, one
of the world's leading manufacturers of trucks, buses and
construction equipment, drive systems for marine and industrial
applications, aerospace components and services. The Group also
provides complete solutions for financing and service. This
information was brought to you by Cision http://www.cisionwire.com
Regulatory News: Volvo Buses has sold the body plant in Turku,
Finland. The sale is part of the company�s efforts to enhance the
efficiency of the European operations. The plant in Turku produces
bodies for the Volvo 9700 model. The Turku plant is the smallest
plant within Volvo Buses, primarily producing for the Nordic
markets. During 2007, 160 bodies were produced. The company has
determined that it is more efficient to sell the plant and purchase
bodies from the new owner. The new owner will also continue to,
under licence, produce the Volvo 9700 for Nordic customers. Volvo
Buses will keep the commercial responsibility for the Volvo 9700.
The buyer consists of a group of private Finnish investors and
managers from Volvo Buses in Finland. The buyers are taking over
the plant, including personnel, as from October 1. Today there are
about 300 employees in the plant. The divestiture of the assets is
made at book value and will not have a material impact on the
earnings or the financial position of the Volvo Group. October 1,
2008 Volvo Bus Corporation is one of the world�s largest
manufacturer of large buses and coaches. The range comprises
complete vehicles, chassis, bus bodies, transport system solutions
for metropolitan traffic, leasing, financing and service contract
maintenance. Volvo Bus Corporation is part of the Volvo Group, one
of the world�s leading manufacturers of trucks, buses and
construction equipment, drive systems for marine and industrial
applications, aerospace components and services. The Group also
provides complete solutions for financing and service. This
information was brought to you by Cision http://www.cisionwire.com
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