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Enterprises - Sweden - Volvo affirms market forecasts, eyes China links
Gothenburg,Sweden -Reuters -Jun 21, 2006: -- Sweden's Volvo, the world's second biggest truck maker, said on Wednesday it stood by its forecast of robust truck markets on both sides of the Atlantic this year... The firm raised its outlook for its two biggest markets in April, saying it saw a total of 340,000 to 350,000 vehicles in North America and 270,000 to 280,000 in Europe this year... Volvo remained committed to boosting its foothold in the Chinese market, where the firm late last year put the brakes on a pending engine venture with First Automotive Works and China National Heavy-Duty Truck Corp., amid moves by Beijing to slow down the sector... Volvo earlier this year bought a 13 percent stake in Nissan Diesel Motor Co., for 1.5 billion Swedish crowns ($205.9 million) with an eye to strengthening its Asian operations and forming a new link to China through Nissan Diesel's joint venture with China's Dongfeng Motor Corp... Volvo has been in talks to strengthen ties to the Chinese firm ever since the two firms had created nine different discussion groups in order to iron out future joint projects...
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