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2022-09-27
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Volvo Construction equipment plans to acquire Terex dump truck business

Volvo Construction equipment plans to acquire Terex dump truck business

China Construction machinery information

Guide: in order to improve the company's market share in the field of core earth moving machinery and consolidate its position in the field of light mining, Volvo Construction equipment company has agreed to acquire Terex's off highway dump truck business. The transaction amount is about 160million US dollars (about 1billion Swedish kroner), and the cash payment is not negative

in order to increase the market share of the company in the field of core earth moving machinery and consolidate its position in the field of light mining, Volvo Construction equipment company has agreed to acquire the off highway dump truck business of Terex. The transaction amount is about US $160million (about SEK 1billion), which is paid in cash and is not responsible for debt

Volvo Construction Equipment announced that it had signed terms with Terex to acquire the assets and intellectual property rights of its Terex equipment company. The transaction has yet to be approved by the regulatory authorities. The acquisition projects include the main production plant in Motherwell, Scotland, two product series of rigid and articulated trucks, the sales right of dump trucks in the United States, and 25.2% shares of Inner Mongolia North Heavy Truck Co., Ltd. (hereinafter referred to as North stock). NORINCO produces and sells trek in China, followed by Xi'an Zhongbang titanium biomaterial Co., Ltd. s brand rigid trucks. Northern shares have been listed on the Shanghai Stock Exchange

pat, President of Volvo Construction equipment? Talking about the deal, o'nei said, "this is a strategic acquisition that can bring huge growth space to Volvo Construction equipment. The introduction of this series of rigid trucks has expanded the choice of earth moving machinery for customers engaged in light mining applications."

the business acquired by Volvo Construction Equipment Company (excluding Northern shares) achieved a net sales of about 370 million US dollars (about SEK 2.5 billion) in 2012, with an operating income of about 33 million US dollars (about SEK 220 million). In the first nine months of 2013, the net sales reached about US $172 million (about SEK 1.1 billion), and the operating income was about US $5.5 million (about SEK 35 million). The holding of northern shares will be calculated by using the equity method in accordance with the provisions of IAS No. 28 single line consolidation. But it has made stable transactions with an amount of about US $160million (about SEK 1billion), paid in cash, and is not responsible for debt. The transaction will increase Volvo Group's net financial liabilities by SEK 1billion

this acquisition includes five types of rigid trucks, which have mature designs with payloads ranging from 32 tons to 91 tons. The introduction of rigid trucks has consolidated Volvo Construction Equipment's position in the field of light mining. Compared with the mature construction, oil and gas, aggregate, Quarrying and road construction fields of Volvo Construction equipment company, this business field will be an important supplement

through this transaction, Volvo will add three types of articulated trucks to its product portfolio, with a payload range of 25 tons to 38 tons. This will further consolidate Volvo Construction Equipment's position in the articulated truck sector and is expected to have considerable business growth opportunities in emerging economies

if approved, Volvo Construction equipment will add more than 500 employees to its existing workforce. After the acquisition, the larger the size in the transition period, the relevant equipment will continue to use the brand name of Terex

after obtaining the approval of relevant government departments, the acquisition plan is expected to be completed in the second quarter of 2014

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