Volvo-Fuso deal
10th August 2000, Page 12
10th August 2000
Page 12
Page 12, 10th August 2000
— Volvo-Fuso deal
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IN Volvo has agreed to purchase 20% of Mitsubishi Fuso Truck and Bus for about 1230m, plus a possible profit-related sum. It will put a more formal basis to the relationship, which began with Volvo marketing the Canter in the UK.
The agreement is the latest turn of a merry-go-round which saw Mitsubishi Cars end its joint venture with the now Ford-owned Volvo Cars in Holland, before being bought by DaimlerChrysler. It is the final separation of Mitsubishi's car and light commercial business from its truck and bus operation.
• Volvo's aim to buy back 10% of its own shares (CM 20-26 July) has now been achieved.