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Volvo choose to make a deal wit blacklisted Chinese automaker, Dongfeng

Monday, 28 January 2013
Over the weekend, Volvo signed a deal with Chinese auto maker, Dongfeng to become the world leader in the production of heavy vehicles. Today the stock market welcomed the deal but behind all that, Dongfeng is a black listed company.

The Swedish wealth fund, Seventh AP Fund and the Norwegian oil fund blacklisted the Chinese company over its sales of military equipment to countries where the United Nations has an arms embargo in force, reports Swedish TV 4.
"Really wrong partner for Volvo, "says Anna Ek of the Swedish Peace and Arbitration Society.

Blacklisting means that the Seventh AP Fund may not hold shares in Dongfeng, but there are no immediate plans to act with the Volvo's Shares which the Fund hold.
by Scancomark.com Team

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