Volvo: Renault Trucks Defense finalizes acquisition of French Panhard
Renault Trucks Defense, which is included in the Volvo Group's Governmental Sales business area, has finalized the acquisition of the French automotive manufacturer Panhard. The total purchase consideration is SEK 538 M. The transaction was concluded following approval from the appropriate authorities.
Panhard is a private company that traces its roots to the passenger-car industry. The company specializes in the manufacture of small armored vehicles adapted for defense operations. In 2011, Panhard had sales of EUR 81 M, resulting in operating profit of EUR 9.4 M. The company has approximately 300 employees.
The transaction has no significant impact on the Volvo Group's earnings or financial position.
October 25, 2012
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The Volvo Group (STO:VOLVA)(STO:VOLVB) is one of the world's leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications and aerospace components. The Group also provides complete solutions for financing and service. The Volvo Group, which employs about 115,000 people, has production facilities in 20 countries and sells its products in more than 190 markets. In 2011, annual sales of the Volvo Group amounted to about SEK 310 billion. The Volvo Group is a publicly-held company headquartered in Göteborg, Sweden. Volvo shares are listed on OMX Nordic Exchange Stockholm. For more information, please visit www.volvogroup.com or www.volvogroup.mobi if you are using your mobile phone.
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