Volvo: Renault Trucks Defense finalizes acquisition of French Panhard
GÖTEBORG, Sweden -- October 25, 2012
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
The transaction has no significant impact on the Volvo Group’s earnings or
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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