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Tag: Volvo AB

Volvo sells Volvo Rents equipment rental business to Platinum Equity

As rumored earlier this year, the Volvo Group has agreed to sell its Volvo Rents construction equipment rental business to Platinum Equity, a U.S.-based private equity firm, for $1.1 billion (SEK 7.5 billion). The sale should be completed during the first quarter of 2014. As a pre-requisite for the sale to go through, Platinum Equity […]

December 10, 2013

Volvo’s fourth-quarter profits boost 2011 forecast

Volvo AB reported a fourth-quarter profit that boosted its 2011 truck-delivery forecast by 10 percent. Their fourth-quarter net income was about $500 million, compared with a loss of $308 million a year earlier. Volvo’s revenue rose 23 percent to $11.3 billion, and they delivered almost 57,000 trucks in the quarter – 49 percent more than […]

February 8, 2011

Volvo’s chief executive officer resigns

Volvo AB’s chief executive officer, Leif Johansson, will resign in summer 2011 after 14 years with the company. Johansson, 59, says he plans to leave Volvo and will not take a CEO position at another company. He says he will also leave Volvo’s board when he steps down but may consider other board assignments. Before […]

December 8, 2010

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