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Renault Trucks Defense finalizes acquisition of French Panhard in a Skr538million deal

Thursday, 25 October 2012
Swedish truck maker Volvo AB announced on Thursday that its Renault Trucks Defense unit has finalized the Skr538 million acquisition of the French automotive manufacturer Panhard.

In a press release, Renault Trucks Defense, which is included in the Volvo Group’s Governmental Sales business area, has finalized the acquisition of the French automotive manufacturer Panhard.

The total purchase consideration is Skr 538 Million. The transaction was concluded following approval from the appropriate authorities, the company said.

Panhard is a private company that traces its roots to the passenger-car industry. The company specializes in the manufacture of small armored vehicles adapted for defense operations. In 2011, Panhard had sales of EUR 81 M, resulting in operating profit of EUR 9.4 M. The company has approximately 300 employees.
The transaction has no significant impact on the Volvo Group’s earnings or financial position.
by Scancomark.com Team / Source: Volvo

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