© volvo
Business |
Volvo's sale of defence truck unit heats up
Swedish Truck maker Volvo had announced in November last year that it is to sell it's Governmental Sales division. Defence companies to make their bids.
Several media outlets, including Reuters and German Die Welt, report that considerations and negotiations have proceeded. The unit itself isn't small either; employing 1'300 staff and contributing about 1.5 percent to Volvo's revenues.
The announcement to sell has caught the attention of several defence companies, such as BAE Systems, General Dynamics Corp. and CMI Group. The only one confirming this however is KNDS.
The company, created with the merger of Krauss-Maffei Wegmann and Nexter Systems, confirmed in January in a Bloomberg interview that it was planning on bidding.
Evertiq is trying to reach Volvo for a comment.
