Xinhua News Agency, London, August 20th The world’s second-largest truck manufacturer, Sweden’s AB Volvo, stated in its written statement on the 20th that it will conduct a series of acquisitions in Japan, China and Russia to expand the company’s product range.
According to the "Financial Times" report, AB Volvo CEO Leif Johansson said on the same day that in order to complete the company's established 10% annual growth target, Volvo plans to carry out several acquisitions worldwide.
Currently, Volvo has a 13% stake in Japan's Nissan Diesel Engine Co., which will increase its shareholding to 19% in 4 years. Johansson also revealed: "We are discussing the expansion of business in China." The report said that the company is currently negotiating with Chinese truck manufacturer Dongfeng Motor Co. In addition, he also said that if the negotiations are successful, the company may also acquire a Russian truck company.