Deutz signs engines MoU with AB Volvo

Deutz has signed a non-binding memorandum of understanding with AB Volvo with the intention to explore the potential to extend their long-term cooperation with a joint development of the next generation of medium-duty engines for non-road applications. The MoU also aims at analysing the conditions for establishing a Deutz majority-owned joint-venture company in China for the production of medium-duty engines for non-road applications. The production company is intended to provide support for the Volvo Gro
April 11, 2012 Read time: 1 min

617 Deutz has signed a non-binding memorandum of understanding with AB 473 Volvo with the intention to explore the potential to extend their long-term cooperation with a joint development of the next generation of medium-duty engines for non-road applications.

The MoU also aims at analysing the conditions for establishing a Deutz majority-owned joint-venture company in China for the production of medium-duty engines for non-road applications.

The production company is intended to provide support for the Volvo Group’s anticipated growth in non-road applications in Asia.

Any implementation requires both companies to agree on the final terms and conditions in a binding contract.

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Deutz signs engines MoU with AB Volvo

Deutz has signed a non-binding memorandum of understanding with AB Volvo with the intention to explore the potential to extend their long-term cooperation with a joint development of the next generation of medium-duty engines for non-road applications. The MoU also aims at analysing the conditions for establishing a Deutz majority-owned joint-venture company in China for the production of medium-duty engines for non-road applications.

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Volvo becomes major Deutz shareholder

Swedish commercial vehicle manufacturer AB Volvo has increased its shareholding in Deutz from 6.7% to just over 25%. Following an announcement in June 2012, Volvo has acquired 22,117,693 shares from long-standing majority shareholder Same Deutz-Fahr for approximately €130 million. As a result of the transaction, Volvo now has a shareholding of 25% plus one share, making it the largest Deutz shareholder.

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