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Business * UK - Volvo trucks set to rumble into Asia
Big ambitions...
London,UK -The Gulf News (Dubai,United Arab Emirates-UAE) -26 Feb 2007: -- Patiently, and at times with dogged perseverance, Leif Johansson, Volvo's Chief Executive, has asked the truckmaker's shareholders to sit back and wait for him to implement his vision... Johansson told them he was a dealmaker by nature and reminded them that Volvo, having absorbed Renault Trucks in Europe and Mack Trucks in the US, was not shy of making acquisitions... Johansson promised that the next step would be into Asia, the world's fastest-growing region... Last week's acquisition of Nissan Diesel by Volvo delivered control of a significant Japanese producer and, with it, a base for exports into neighbouring Asian countries. Combined with an expected deal with Dongfeng, a Chinese truckmaker, the plan could also put Volvo within striking distance of replacing DaimlerChrysler as the world's biggest manufacturer of heavy-duty trucks... The acquisitions form just one part of Johansson's vision. The other side of the equation is the combination's ability to generate savings and synergies... It is this area that forms the rationale behind any automotive industry merger. In practice, the cost savings can be notoriously difficult to realise. Johansson's track record in tricky area is, however, established. Since his company's purchases of Mack and Renault Trucks, the group has reduced the number of platforms it uses on its new engine range from 18 to just two...
Labels: business
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