Chinese manufacturer cars Geely bought it from American Ford affiliated undertaking, Swedish concern Volvo. The deal is valued at $1.8 billion.
After many months of negotiations, the American concern Ford sold its subsidiary for production Volvo cars Chinese car manufacturer Geely cars. On Sunday, March 28, the DAPD agency reports. The corresponding agreement was signed over the weekend, confirmed on Sunday official representative Volvo.
According to concern Ford, the acquisition of the Swedish Volvo cost the Chinese buyer $1.8 billion. The transaction is expected to be completed in the third quarter of 2010. By acquiring Volvo, the Chinese concern Geely gets access to modern Western technologies, Reuters notes.
Volvo production to remain in Sweden
The management of the largest private automaker in China intends to keep the headquarters, production capacity and the Volvo Research Center in Sweden. At enterprises Volvo, which was founded in 1927, employs 22,000 people worldwide. Of these, 16 thousand people work at factories in Sweden.
Reuters reminds that american ford acquired Volvo in 1999 for $6.5 billion and has been trying to resell the Swedish company since late 2008.
archive
Context
press
Also on topic
'Automotive genius' Lee Iacocca dies in US
Former Ford and Chrysler CEO Lee Iacocca has died in California at the age of 94. The companies announced the death of one of the leaders of the global automotive industry.
Do you know where Volvo is made? The country of origin of this car deserves all the praise. It is produced in Sweden. The car is produced by the Swedish concern Aktiebolaget Volvo. The concern is engaged in commercial and engines and various equipment. Previously, it was possible to purchase from the Volvo concern and passenger cars. Unfortunately, the car branch was sold to the Ford concern, called Volvo Personvagnar. In turn, Ford assigned it to Geely.
The corporate headquarters is located in Swedish city Gothenburg. From Latin "volvo" is translated as "I roll" or "I rotate".
history of the company
The company was founded by Assar Gabrielson and Gustaf Larson in 1915. In fact, it was a subsidiary of the popular bearing manufacturer SKF. First production car Jakob OV 4 left the factory gates on April 14, 1927. She had an engine with a capacity of 28 Horse power And top speed 90 km/h
The country of origin of the Volvo car is beautiful! Who becomes the president of the concern in 1956? Of course, Gunnar Ingellau! He is a doctor of mechanical engineering and economic sciences. During his tenure, the company flourished. Export to the USA starts in 1956. In the United States in 1957, 5,000 Volvo cars were sold. The volume of car production is increasing. In 1956, 31,000 copies were made, and in 1971, 205,000 units were produced.
Country of origin "Volvo" has temperate climate mainly due to the Gulf Stream. It is very pleasant to work here. It should be added that Nils Ivar Bolin also worked tirelessly at Volvo. He is the author three-point belt security. This element was equipped for the first time in the world Volvo brands PV 444 and P120 Amazon.
Model P1800 is made in the form of a double sports coupe. It was released in 1960. And the production of the Volvo-144 began in 1966. It was this model that was equipped with a dual-circuit brake working system. And it was here that the deformable zones of the body were installed. This is an amazing Volvo! What country-manufacturer is able to invent such a candy? Of course, only Sweden.
In 1976, the creators of Volvo developed oxygen sensors Lambda Sond. In the same year, exhaust gas was generated.
The passenger department of Volvo Personvagnar in 1999 was sold Ford. The concern was able to sell the division for $6.45 billion. Volvo Personvagnar AB is known in the US as Volvo Cars. And since 1999, this branch has been transformed into a division of the Ford concern. But in December 2009 year Ford announces sale of Volvo Personvagnar AB to Chinese Zhejiang Geely Automobile. The branch is now worth $1.8 billion. On March 29, 2010, the Chinese enterprise officially signs the documents. These are purchase papers. Volvo brand Cars at the enterprise Ford motor. The transaction was completed on August 2, 2010.
Management and owners
Why does everyone choose Volvo? The country of origin knows the answer to this question. To do this, you need to find out who is the largest shareholder of the AB Volvo concern? Of course, the Chinese concern Geely. Until 2010, Renault S.A. owned about 20% of the company's shares. She was then the largest owner. In 2012, these shares were acquired by the Chinese concern Geely.
Louis Schweitzer is Chairman of the Board of Directors of this excellent organization. And Leif Johansson holds the positions of executive head and president at the same time.
Organization's activities
On this moment the Volvo concern supplies trucks to the Swedes. In addition to trucks, the company supplies construction equipment, buses, systems marine engines, financial services and space components.
In general, the Volvo brand is owned by the Geely holding. The Volvo Group also manages the following brands:
- Renault Trucks.
- Nissan Diesel.
- Mac.
- Prevost.
- Nova Bus.
The holding consists of nine production companies and eleven business divisions.
Volvo in Russia
The official sale of Volvo cars in the USSR started in 1989. It should be noted that the much-needed Sovtransavto have been purchased since 1973.
Trademark "Volvo" ... The country of origin is located in Northern Europe, in the center of civilization. Currently, the Volvo concern in Russia is represented by CJSC Volvo Vostok and OOO VFS Vostok.
The Volvo company built in Kaluga new plant. The launch of this production took place on January 19, 2009. The production capacity of this plant is very high. It is 15,000 trucks in year. Installation planned here Volvo models FM and This is the first full-scale commercial production trucks foreign brand in the Russian state. A little later, Volvo Truck Center-Kaluga was built on the Volvo factory territory. This center opened in the summer of 2009. Volvo Holding has adopted a comprehensive transport solution. Now production, sales and service are all done in one place.
Corporation
Consider one of the industrial companies belonging to the concern Volvo. The country of origin, Sweden, is proud of its brainchild, its carmaker. Volvo Trucks Corporation is one of the world's top manufacturers of heavy trucks. This company was founded by Gustaf Larson and Assar Gabrielson in 1916. It is a subsidiary of the popular bearing manufacturer SKF.
Outside the gates of the factory first stock car left in 1927. The company gained complete independence from SKF in 1935.
In early 1928, the first truck appeared. It was called "LV series 1" and was an incredible success. It was equipped with a two-liter four-cylinder engine. Engine power was 28 horsepower.
Can anyone forget the Volvo? The country of origin will, on occasion, remind you of this concern. Indeed, in terms of volume in the world market, it is in second place. In 2006 Volvo Trucks sold 105,519 trucks.
Volvo trucks are considered comfortable and safe. The global international corporation Volvo Trucks Corporation includes industrial and design centers located in the USA, Brazil, Sweden and Belgium. It includes an incredible number of assembly firms around the world. Some enterprises represent the corporation as a co-founder along with local production groups. Of course, there are organizations directly owned by the Volvo Group.
Renault Trucks in Russia
The first Renault trucks appeared in Russia in 1912. IN Russian Empire the war ministry organized a run, and Renault took part in it.
In 2012, Renault Trucks celebrated its 100th anniversary on the Russian market. The company owns its own production workshop at the Volvo plant in Kaluga. In 2009, the production of the Premium Route tractor began. Today, the plant assembles heavy trucks Premium and Kerax models. At the end of 2014, it is planned to start production of the latest model line Renault Trucks trucks.
And in June 2013, an unforgettable ceremony was held in the Kaluga region. The foundation stone of the future plant was laid. It is planned to manufacture cabs for Volvo and Renault trucks at this enterprise.
It looks like this deal will be the biggest financial event of the year in automotive industry after PSA concern European assets of the firm General Motors. And not only in the automotive industry. Geely company announced the acquisition of 8.2% of the shares of the Swedish concern AB Volvo, better known as the Volvo Group. The purchase agreement was concluded with the Swedish firm Cevian Capital, which until now owned this block of shares. As a result Chinese company will become the largest single shareholder of Volvo Group and will receive the largest, sixth part (15.6%) of the votes in the board of the concern.
The amount of the deal has not been officially disclosed, but experts estimate it at about $3.8 billion. The fact is that the Volvo Group is a large international concern that includes divisions for the production of trucks, buses, construction equipment, ships and industrial engines. The group has bought dozens of competing companies, it has its own factories in most countries of the world. For example, Volvo Trucks owns cargo firms, And ( ex Nissan Diesel), the Volvo Bus Group, has acquired many bus brands, including the North American Prevost and Blue Bird, there are many acquisitions on account of the Volvo division Construction Equipment. Have their own factories Volvo Group and in Russia: sites in the Kaluga region produce trucks and excavators.
The Swedish concern got rid of the passenger compartment of Volvo Cars back in 1999: at first it became the property of Ford, and after not very successful experiments with model range the Americans sold it in 2010 to the Geely holding. In light of the new deal, there appears to be a reunion of the companies under Li Shufu, the owner of the Chinese firm.
Recall that Volvo Cars has become the first and largest overseas asset of Geely so far. Although with the rise of the Swedish brand, the business of the Chinese owners gradually went uphill. Over the past five years, private holding Geely managed to enter the top five Chinese automotive market, buy a British cab manufacturer, a Malaysian auto company and American developer flying cars. And over the past year, the holding has also created two new automotive brands - and. However, outside the passenger car sector, Geely's assets have so far included only a small truck firm, Yuancheng.
Now everything can change. With the acquisition of the largest stake in AB Volvo, the Chinese holding becomes a major international concern. What, however, circumstances are pushing Li Shufu: the Chinese Communist Party not so long ago announced its desire to unite the three largest state automobile concern- FAW, Dongfeng and Changan. This is a complex and lengthy process, but the first mergers of small divisions have already begun, and as a result of the merger, a huge and powerful conglomerate may enter the scene, which it will be very difficult for other Chinese manufacturers to compete with.
The profits of the successful Swedish group will help Geely: experts estimate the income of Cevian Capital for 11 years of owning a stake in AB Volvo at two billion euros. However, the parties have so far only announced an agreement in principle. Nomura International and Barclays Capital Securities can act as counterparties: after the deal is approved by the antimonopoly authorities, they will buy back the shares owned by Cevian Capital and sell them to the Geely holding. This will happen, of course. not earlier than next year.
When the famous Swedish car Volvo manufacturer, which at that time was after a break with Ford, is far from being in the best form, bought by the Chinese (Geely), many were not so much surprised as upset. Although, let me remind you, at that moment even hits like the XC90 and XC70 were already sold quite somehow. And the leitmotif was the idea that it definitely won’t get worse, but with the quality it will be necessary to look.
The 11 billion dollars invested by the Chinese in Volvo allowed the Swedes to simply throw away all the old blueprints and recreate the model line. The first sign, literally "with a bang" adopted in the markets of Europe and the USA, was the completely new XC90 - new platform, new engines, everything new - even the very concept of the car has changed, actively claiming the premium segment. And then the whole model line was updated according to the new concept. S90, V90, V90 Cross Country- Volvo began to return to the world market. At the same time, changing the approach to the service, the structure dealer centers- well, how - the same premium. Yes, 12 years of production of obsolete models still hold the stereotypes of many potential buyers, but...
And here's the latest news - Volvo is moving the production of many models to China - the home of the parent company. No, the plant in Gothenburg is not closing, just production volumes are growing, and in Sweden it is somewhat expensive to increase production capacity. Well, that's to be expected...
Volvo Group is significantly increasing its production capacity in China. Recently, it was announced that the production premium sedan S90 will be transferred from Sweden to its own Volvo plant in Daqing (China). Both standard and long versions will be produced in Daqing and exported to all markets. The Volvo S90 will be the highest-profile premium car currently produced in China.
The manufacturer also announced that the upcoming new generation of the S60 will also be produced in China at the Chengdu plant, while production of the upcoming new generation of the 40 series will be located at the Luqiao plant, south of Shanghai, and also in Ghent (Belgium). . Currently, the Swedish company, wholly owned by the Chinese, manufactures 90 and 60 series vehicles at a plant in Gothenburg, Sweden.
"By having three factories, and placing each model on a separate line, Volvo is creating an efficient manufacturing structure that provides excellent prospects for further growth," said CEO Volvo Cars, Hakan Samuelson.
The Luqiao plant is owned by Volvo's parent company, Zhejiang Geely Holdings. It will also produce cars for the new car brand LYNK&CO. Volvo is also building a new plant near Ridgeville, South Carolina to build vehicles for American market. It is scheduled to launch in 2018.
By the way, Volvo recently showed a luxurious version of the S90 sedan - S90 Excellence, the official presentation of which will take place at the Guangzhou Motor Show in November. This sedan implies the presence of a personal driver and the front passenger seat has been replaced by the so-called "Lounge Console", which is both a computer and a multimedia center.
Naturally, thanks to close cooperation with the company Apple latest years, the iMac will be the basis for this device.
Also provided is a folding almost horizontally back seat, footstools, storage space for a spare set of clothes and shoes, and a champagne minibar.
