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Volvo CEO confirms 'cooperation' talks with VW

Article Abstract:

AB Volvo Chief Executive Leif Johansson confirmed holding "cooperative" talks in June 1998, with Volkswagen AG Chairman Ferdinand Piech. The two sides, however, decline to give details about their meeting. Currently, Volvo has a cooperation with Volkswagen concerning marine and car engines. Juergen Pieper, European automotive analyst at Deutsche Morgan Grenfell in Frankfurt, Germany, said Volkswagen is more interested in Volvo's heavy trucks operations, while Volvo shareholders might prefer a full-scale merger.

Comment:

Chief Executive Leif Johansson confirms holding "cooperative" talks in 6/98, with Volkswagen AG Chairman Ferdinand Piech

Author: Latour, Almar
Publisher: Dow Jones Publishing Co. (Europe)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
Strategy & planning, Article

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Volvo's results clear the way for consolidation

Article Abstract:

Sweden-based commercial vehicle manufacturer AB Volvo reported slightly-better-than-expected second-quarter pretax profits and promised to participate aggressively in the industry's consolidation process. The company's pretax profit increased 41% to 2.4 billion kroner in the second quarter, compared to 1.7 billion kroner during the same period of 1998.

Author: Latour, Almar
Publisher: Dow Jones Publishing Co. (Europe)
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
Sales, profits & dividends, Finance, Transportation equipment industry

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Subjects list: Sweden, AB Volvo
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