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Volvo seeking to make an impact in Brazil

Friday, 12 October 2012
Volvo AB will invest $500 million - nearly Skr3.4 billion - in Brazil over the next three years. This is to expand production, renew, and broaden truck range after a challenging year in the local market.

According to Reuters, the company's CEO Olof Persson on Thursday gave notice of the investment in connection with a visit to Brazil, and Volvo's press office later confirmed the information.

Volvo has currently two plants in Brazil that manufactures trucks under the Volvo brand, and the company plans to take another of its brands to Brazil in connection with the new investment.

Production of heavy trucks in Brazil fell by 40 percent through September this year, compared with the first nine months of 2011.
Scancomark.com Team

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