GOTEBORG, Sweden, July 1, 2002 (PRIMEZONE) -- Volvo Construction Equipment (Volvo CE) has sold its sales company in the Czech Republic, Volvo Stavebni stroje CR s.r.o, to Bilia Baumaschinen GmbH, a wholly owned subsidiary of Bilia AB in Sweden.
The share purchase agreement was closed on 28 June 2002. The company name will be changed to Bilia Stavebni stroje CR s.r.o. In addition to the Czech Republic, Bilia AB is already the exclusive distributor for Volvo CE in Norway, Denmark & Greenland, Austria, Poland, Hungary, Slovakia, Slovenia, Croatia and Bosnia-Herzegovina.
The strategy of Volvo Construction Equipment (Volvo CE) is to have fewer, larger, independent distributors able to provide complete sales and service support centers. As market conditions become even more challenging, it is vital that dealers are financially strong and able to meet the demands of Volvo's customers.
July 1, 2002
For further information, please contact:
Mr. Chris Rees President Region Europe Volvo Construction Equipment Tel: + 44 1223 251701
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