Technology agreement to expand Swedish firms share in China’s CE sector
Paving the way in China Image: Volvo CE |
Volvo Construction Equipment, a subsidiary of Volvo AB, and Shanxi Construction Machinery Co Ltd have signed and agreement to build and sell the former’s Titan 8620 and Titan 7620 diggers in China.
The partnership will help Volvo capitalise on China’s booming construction industry and will provide Shanxi Construction with access to a wide array of technologies including trucks, diggers, pavers and other road making machinery.
Volvo, acquired by Zhejiang Geely Automotive in 2010, attributed strong global sales to increase in demand from Chinese consumers. The company saw sales grow 45.6% in 2013 to 427,840 units, although the figures were skewed in part by low forecasting in 2011 and an overestimation in 2012.