AB Volvo signs letter of intent to divest plant in Spain
AB Volvo has signed a letter of intent with MAPE to divest the crankshaft plant in Leganes, Spain. The plant has 150 employees.The Volvo Group plans to divest the Leganes plant for structural reasons. At present, part of the plant’s production capacity is used to manufacture crankshafts for the Volvo Group’s automotive medium-duty engine platform. This production will be relocated in conjunction with the switch to a new generation of engines in 2013. “This comprises part of our effort to develop an improved industrial footprint, in line with our new strategy,” says Mikael Bratt,