The hottest Volvo Group completed the sale of Volv
2022-08-22- Detail
Volvo group completes the sale of Volvo Aerospace transaction
volvo group completes the sale of Volvo Aerospace transaction
China Construction machinery information
Guide: ab Volvo Group (AB Volvo) has completed the sale of Volvo aerospace to multinational engineering group GKN with SEK 6.9 billion after deducting liabilities in recent days. This transaction has been finally concluded after obtaining the approval of relevant institutions. The sale of Volvo aerospace is expected to be written off after depreciation
AB Volvo recently completed the sale of Volvo Aerospace (Volvo aero was studying the strategic objectives of RD) to multinational engineering group GKN with SEK 6.9 billion after deducting liabilities. This transaction has been finally concluded after obtaining the approval of relevant institutions
the sale of Volvo aerospace is expected to bring a one-time operating income of 300 million Swedish kronor to the "enterprise functions and others" part of Volvo Group in the fourth quarter after offsetting depreciation. At the same time, net financial liabilities in the fourth quarter will decrease by about SEK 5billion
Volvo Group began to evaluate various options at the end of November 2011 to find new owners for Volvo aerospace. GKN, the ultimate target of Volvo aerospace business, is a multinational engineering enterprise serving cars, non highway systems and aircraft. At present, GKN operates in more than 30 countries around the world, with about 45000 employees. In 1999, Volvo Group sold its Volvo HRC and Vickers hardness HV car companies to Ford Motor Company. The sale of aerospace business will also have a far-reaching impact on further streamlining the group's business structure and focusing more on its core business - "commercial transportation"
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