Ferronordic and Volvo CE agree to terminate dealer agreement for Russia
Ferronordic and Volvo CE have agreed to terminate the dealer agreement for Russia. As part of the agreement, Volvo CE will pay SEK 321m to Ferronordic as compensation for incurred and potential costs and losses related to the termination.Ferronordic has been the official dealer of Volvo CE in Russia since the company’s foundation in 2010. As a result of the military conflict in Ukraine, Volvo CE has suspended sales to Russia. Ferronordic thus no longer receives any deliveries of machines or parts from Volvo CE to Russia. As all payables for delivered machines and parts have now been settled