Volvo CE’s Russian Revolution

Volvo Construction Equipment has started its own Russian revolution by beginning work on its US$52million excavator factory in Kaluga. High profile dignitaries, including Kaluga Region governor Anatoly Artamonov and president of Volvo CE Pat Olney, attended a special ceremony on April 18 to mark the start of the groudbreaking project.
April 19, 2012 Read time: 2 mins
RSSVolvo Construction Equipment has started its own Russian revolution by beginning work on its US$52million excavator factory in Kaluga.

High profile dignitaries, including Kaluga Region governor Anatoly Artamonov and president of 359 Volvo CE Pat Olney, attended a special ceremony on April 18 to mark the start of the groudbreaking project.

The 15 hectare site, around 150km south-west of Moscow, is said by Volvo CE to underscore the company’s commitment to the Russian market. It will be Volvo’s seventh excavator manufacturing facility, out of a total of 16 plants globally. When completed, the final manufacturing area will be 20,660m2. Six models of excavators are planned to be made at the plant, ranging from the 20-tonne EC200 to the 48-tonne EC480. The first machines are due off the assembly lines next year – creating 280 new jobs in the process.

A leading player in the Russian market, Volvo CE plans to double sales in the country by 2015. As part of this aim, Volvo CE’s new Russian dealer 5066 Ferronordic Machines plans to increase its branches from 55 to 100 locations by 2015.

For more information on companies in this article

Related Content

  • Volvo CE sees sales dip for Q3
    October 21, 2016
    Volvo Construction Equipment has seen its sales dip 2% in the third quarter of 2016, following a strong year. However the profit margins have improved despite the flat sales volumes in the third quarter. The firm says that an improvement in the European market and order intake up by 17% failed to offset continued weakness in other markets, sending Volvo Construction Equipment (Volvo CE) sales down 2% in the third quarter, when adjusted for currency movements. Net sales in the third quarter decreased by 3
    Read More
  • Volvo Construction Equipment’s Q1 2015 sales down 5% due to weak Asia sales
    January 6, 2017
    An improvement in European and North American sales could not offset continued weakness in Asia leading to Volvo Construction Equipment sales falling by 5% year-on-year in Q1 2015. Sales in China in particular were less than half what they were in the same period of 2014, the Swedish sector giant said. “We are working to adapt to lower volumes and are implementing a series of measures to reduce cost levels. However, our efforts could not fully offset the significant drop in volumes,” said Volvo Const
    Read More
  • Volvo Construction Equipment’s Q1 2015 sales down 5% due to weak Asia sales
    April 23, 2015
    An improvement in European and North American sales could not offset continued weakness in Asia leading to Volvo Construction Equipment sales falling by 5% year-on-year in Q1 2015. Sales in China in particular were less than half what they were in the same period of 2014, the Swedish sector giant said. “We are working to adapt to lower volumes and are implementing a series of measures to reduce cost levels. However, our efforts could not fully offset the significant drop in volumes,” said Volvo Const
    Read More
  • Boom in Asian infrastructure investment
    February 8, 2012
    Investment in China and India continues unabated, but other nations on the continent are eager to attract companies as Patrick Smith reports Asia is still booming despite the current economic crisis, and new infrastructure programmes are constantly coming on stream. Powerhouses China and India, with their double-digit growth figures and huge infrastructure plans (in scope and cost), are leading the way and are still magnets for businesses wishing to expand, both in terms of facilities and customers. But oth
    Read More

Highlighted Content