Volvo dismisses media speculation concerning acquisition of Nexter of France

The Volvo Group has no plans to acquire the French company Nexter, a manufacturer of products for the defense industry. Information reported in the Swedish media is absolutely untrue.
An article in Dagens Industri on February 7 described the possibility of the Volvo Group merging or combining some of its operations with Nexter. 

“The article is based on an interview with a person who is incorrectly named as the President of the French company Panhard, which Volvo acquired in 2012,” says Mårten Wikforss, Executive Vice President Corporate Communication at Volvo. “The person in question stepped down from the management of Panhard in November 2012 and he has since had consultancy assignments. He does not represent the Volvo Group and the strategy described is very far from the truth.”

In October 2012, the transaction between Renault Trucks Defense, part of the Volvo Group’s Governmental sales business area, and the French vehicle manufacturer Panhard was concluded.

The company specializes in the manufacture of light military vehicles. Renault Trucks Defense has delivered trucks and other vehicles to the French defense industry for several decades.

February 7, 2013

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