Volvo buys control in Ailsa
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• AB Volvo has reached an agreement with its UK importers, Ailsa Trucks Ltd, whereby Volvo will acquire 75 per cent of the shares. The agreement, which takes effect from September 29, has been finalized after an initial approach to Volvo by Mr J. McKelvie, managing director of Ailsa.
A spokesman told CM this week that the acquisition will provide more finance for the import of a larger number of vehicles and will also enable the enlargement of the spares stock held in this country, which already exceeds a value of £1m. The policy of appointing dealers and distributors will not be significantly altered.
Mr McKelvie is to remain managing director for at least the next 10 years and there will be no changes in the company's policies towards its customers, dealers or employees. Ailsa was formed in 1966 and in the first full trading year 165 Volvos were sold. By the end of this year's trading it is expected that more than 2200 vehicles will have been sold.