Our history - 1999

1999

  • This was an important and dramatic year for Volvo. An extraordinary general meeting proposed the selling of Volvo's "crown jewel", Volvo Cars, to the Ford Motor Company for SEK 50 billion.
  • Volvo's attempt to take over Scania was effectively disallowed by the EU Commission.
  • Volvo Trucks enters co-operation agreement with Schmitz Cargobull.
  • Volvo Aero increased its holding in The AGES Group and Norsk Jetmotor.
  • Volvo Aero concluded an agreement with Boeing and acquired Jet Support Corporation. Volvo increased its holding in Scania to 20%.
  • Volvo Construction Equipment divested its marketing company in Spain in line with its strategy of organizing sales via independent dealers.
  • Volvo Trucks acquired an interest in the North American Petro Stopping Centers service chain.
  • Volvo decided to participate in the financing of Henly's acquisition of Bluebird, an American bus company.
  • Agreement on closer co-operation between Volvo and Mitsubishi Motors
  • Volvo Trucks was awarded 'European Truck of the Year' for the fifth time.