Volvo Truck to Pair with China’s Dongfeng

Wed January 30, 2013
Aggregate Equipment Guide

STOCKHOLM (AP) - Swedish truck maker AB Volvo says it will acquire a 45 percent stake in a new heavy-truck unit of China’s Dongfeng Motor Group Co. for a total amount of 5.6 billion yuan ($890 million)

Volvo CEO Olof Persson says the move to buy the stake in Dongfeng Commercial Vehicles was part of "a clear strategy" to become the world’s largest maker of heavy-duty trucks.

He said Saturday completion is expected within a year, adding it will increase Volvo’s net debt by approximately 6 billion kronor ($926 million).

Volvo was the world’s third largest truck manufacturer in 2011, with 180,000 units sold, while Dongfeng was second with 186,000 vehicles sold, according to the Swedish group.

AB Volvo’s third quarter profits plunged amid weak demand, especially in debt crisis plagued Europe.

This story also appears on Construction Equipment Guide.

Caterpillar Launches Autonomous Cat 777 Off-Highway Truck at Luck Stone Quarry →

Caterpillar Inc. announced it has successfully demonstrated the fully autonomous operation of its Cat 777 off-highway truck.

Komatsu Introduces HD465-10, HD605-10 Haul Trucks →

Komatsu has introduced its new HD465-10 and HD605-10 mechanical haul trucks to the North America market, offering an upgrade from the previous -8 models.

Hitachi Begins Technological Feasibility Trial of Ultra-Large Full Battery Dump Truck →

Hitachi Construction Machinery Co. Ltd. announced the commencement of the world's first* technological feasibility trial of an ultra-large full battery rigid frame dump truck by an Original Equipment Manufacturer operating at First Quantum Minerals Ltd Kansanshi copper and gold mine in the Republic of Zambia.

Komatsu Achieves Major Autonomous Milestones →

With a fleet of more than 750 autonomous haul trucks commissioned worldwide, Komatsu customers have hauled more than 10 billion metric tons of material and are adding to that milestone at a rate of more than 6 million metric tons per day.

Newport Sand & Gravel Relies On Volvo Iron, ASCENDUM →

Any company in the business of mining stone, and then processing it for use by landscapers and homeowners, is going to need the toughest, most dependable heavy equipment on the market.

Caterpillar Signs Strategic Agreement with CRH for Electric Off-Highway Trucks, Charging Solutions →

Caterpillar Inc. has signed an electrification strategic agreement with CRH to advance the deployment of Caterpillar's zero-exhaust emissions solutions.

GM, Komatsu Collaborate On Hydrogen Fuel Cell-Powered Mining Truck →

General Motors and Komatsu will co-develop a hydrogen fuel cell power module for Komatsu's 930E electric drive mining truck, the world's best-selling ultra-class haul truck.

Freeport-McMoRan Uses Cat MineStar to Convert Fleet →

Caterpillar and Freeport-McMoRan (FCX) announced that the two companies are collaborating to convert the mining company's fleet of 33 Cat 793 haul trucks at its Bagdad mine in Arizona to an autonomous haulage system (AHS) using Cat MineStar Command for hauling.

Caterpillar Validates Rajant Wireless Solution With Cat MineStar Command for Hauling →

After extensive testing, Caterpillar Inc. has completed the in-house validation of Rajant BreadCrumbs, LX5 CA radios, which will enable field trials with this Rajant product and Cat MineStar Command for hauling.

Nevada Gold Mines Places Order for 62 Komatsu Haul Trucks →

Building on the proven success of Komatsu trucks at Barrick's Lumwana copper mining operation in Zambia, Nevada Gold Mines (NGM), signed a multi-year agreement with Komatsu to deliver 62 Komatsu 930E-5 haul trucks between 2023 and 2025.