Volvo

:''Volvo Cars is the car maker using the brand Volvo.'' AB Volvo is a Sweden world leading manufacturer of truck, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services. The Group also provides complete solutions for financing and service. Founded in 1927 in the city of Gothenburg, as a spin-off from roller ball bearing (mechanical) maker SKF. Volvo Cars, the automobile manufacturer, has since 1999 been owned by the Ford Motor Company. ''Volvo'' is Latin for "I roll", and although fitting well to their products, vehicles, it was originally a name for a ball bearing being developed by SKF. The Volvo Group today has more than 81,000 employees, with manufacturing in 25 countries and sales in more than 185 markets. The Volvo Group's net sales 2004 amounted to 22 billion EUR. ==Change of strategy== Among the reasons why Volvo took the initiative to sell the automobile manufacturing was the increasing development costs for new car models, coupled with the fact that it was a relatively small producer. The strategy was instead to grow as a truck manufacturer where it had a stronger market position. The buyout of Volvo Cars was announced on January 28, 1998 in the following year acquisition was completed at a price of $6.45 billion United States dollar. Volvo used the funds from the sale of the automobile division to purchase of Scania AB, another leading Swedish truck manufacturer, but the deal was stopped for competition reasons by the European Union. Instead Volvo acquired the commercial vehicles division of French Renault and the American truck manufacturer Mack. ==The Volvo trademark== The Volvo™ trademark is now jointly owned (50/50) by Volvo and Ford. One of the main promotional activities for the trademark is the sailing contest Volvo Ocean Race, formerly the ''Whitbread Around the World Cup''. There is also a Volvo Baltic Race. ==Volvo companies== ===Business areas=== The Volvo Group is organised into the following business areas: *Volvo Trucks *Mack Trucks *Renault Trucks *Volvo Buses *Volvo Construction Equipment *Volvo Penta *Volvo Aero *Volvo Financial Services ===Business units=== The group business areas are supported by a number of Volvo Business Units: *Volvo 3P *Volvo Powertrain *Volvo Parts *Volvo Technology *Volvo Information Technology *Volvo Logistics *Volvo Technology Transfer *Volvo Business Services *Celero Support ==See also== *Ainax - ownership of Scania shares acquired by Volvo ==External links== ===Company websites=== *[http://www.volvo.com/ Volvo] - Official site *[http://www.ford.com Ford Motor Company] - parent of Volvo Cars Corp ===News=== *[http://www.volvonews.tk] - Volvonews ===Company data=== *[http://biz.yahoo.com/ic/41/41854.html Yahoo! - AB Volvo Company Profile] Companies of Sweden Volvo Bus transport

Volvo

Companies of Sweden

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Volvo
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Volvo_(disambiguation)
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