Volvo Group invests in Russia
The Volvo Group will invest SEK 783 M in a new facility for the production of cabs at the plant in the Russian city of Kaluga. The facility, which is expected to become operational in 2014, will manufacture cabs for the Volvo and Renault Trucks brands with a total annual capacity of 15,000 cabs.
“The investment is a natural step in efforts to further consolidate our strong position in the premium heavy trucks segment in Russia,” says Volvo’s CEO Olof Persson.
The plant in Kaluga, situated about 200 kilometers south of Moscow, was inaugurated in 2009 and currently supplies Russia and surrounding countries with trucks under the Volvo and Renault Trucks brands. The total annual capacity of the facility is 15,000 trucks. In 2012, the total market for Western premium heavy trucks in Russia alone is expected to amount to 28,000 vehicles, which represents a two-fold increase compared with 2010.
“We have strong confidence in the Russian market and believe that there is immense potential for further growth in the years ahead,” says Olof Persson.
September 13, 2012
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The Volvo Group 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 their 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