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Volvo Heavy equipment Chief tracks strong growth in machinery
Tuesday, 27 March 2012
Strong global growth will give their construction equipment a boost,
according to Patrick Olney, president of Volvo Construction Equipment,
which according to current industry tracks growth in annualized
revenues of Skr25 billion.
Canadian Patrick Olney, president of the construction equipment
company, Volvo Construction Equipment, thinks of the current industry
situation as that his company's annual revenue will increase from Skr65
billion to Skr90 billion.
"We see a long-term driver of growth from year to year throughout the
world. It is driven by public investment in infrastructural development
and private investment in increased exploitation of natural resources,
"he told the Swedish business daily, Dagens Industri.
The strongest trend he sees coming from emerging markets, Russia,
Brazil and China, but he also flagged that some African countries will
grow significantly.
To meet the supposedly high demand, company is investing Skr1 billion in emerging countries and Skr1 billion in Europe.
Increased competition from price squeezing Chinese companies is being
addressed by a new Chinese brand, Shangdong Lingong, which has a
slightly lower price than Volvo's traditional products.
By Scancomark.se Team
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