AB Volvo sells stake in Deutz engine business

AB Volvo has sold its entire holding in German engine maker DEUTZ to institutional investors. The investment equated to approximately 25% of DEUTZ shares.
July 7, 2017 Read time: 1 min

AB 2394 Volvo has sold its entire holding in German engine maker 201 DEUTZ to institutional investors. The investment equated to approximately 25% of DEUTZ shares.

The sale of the investment is said to have no impact on the strong business relationship with AB Volvo however, which has been in place for many years. "We will continue to work together closely with Volvo and will remain an important supplier, particularly in the Construction Equipment application segment. Following the sale of the investment, we can focus on raising our profile as an independent manufacturer of innovative drive systems," said Dr Frank Hiller, chairman of the DEUTZ Board of Management.

Engines, Components & Tyres Finance & Funding

For more information on companies in this article

Related Content

  • Cummins positive about 2021 growth after resilient trading in 2020
    February 5, 2021
    Major off-highway diesel engine maker Cummins expects good growth in key regional market sales in 2021 after reporting resilient trading in COVID-19-hit 2020.
    Read More
  • Chinese firm Weichai has made a strategtic move in Germany with Kion
    January 18, 2013
    A landmark deal has been agreed between Shandong Heavy Industry Weichai Power and the German Kion Group. This is claimed to be the largest financial investment in Germany to date made by a Chinese company. Kion is a leading international producer of forklift trucks and under the terms of this deal, it will work with Weichai Power to develop a common platform for the machines for sale worldwide. The Chinese investment will also boost manufacturing capability within Europe. Weichai Power is investing €738 mil
    Read More
  • Latest corporate construction equipment results prompt curiosity
    April 15, 2015
    A quick look at corporate results for some of the major construction equipment manufacturers paints a somewhat confusing picture of current demand. Caterpillar, the world’s largest manufacturer of off-highway machines and for so long a bell-wether for the construction sector, recently released results showing a drop in profits.
    Read More
  • Volvo CE president delighted with US$160 million acquisition of Terex haulers
    January 6, 2017
    New Volvo Construction Equipment president Martin Weissburg hopes that the group’s US$160 million December 2013 acquisition of the Terex Equipment rigid and articulated hauler business will be finalised during the second quarter of 2014. It has been an important move for Volvo he said.
    Read More

Highlighted Content