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Volvo CE to sell ABG paver business to Ammann Group

Deal expected to close in 1H ’24 

Equipment Finance News, AI AssistedbyEquipment Finance News, AI Assisted
December 14, 2023
in Construction
Reading Time: 2 mins read
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Volvo Construction Equipment is set to sell its global ABG paver business to Swiss mechanical engineering company Ammann Group.  

The deal, set to close in the first half of 2024, will include Volvo’s ABG paver production and technology center in Hameln, Germany, according to a Volvo Construction Equipment (Volvo CE) release. Approximately 400 employees with Volvo CE will transition to Ammann.  

The paver business generated 1.1 billion SEK ($107.4 million) in revenue in 2022. Volvo Group expects the transaction to have a negative impact of $63.5 million on its construction equipment operating income in the fourth-quarter of 2023.

Volvo Construction Equipment reaches agreement to divest ABG Paver Business to the Ammann Group
(Courtesy/Volvo)

Editor’s Note: All figures have been converted to U.S. dollars.  

This article was written using ChatGPT. Equipment Finance News uses published and nonpublished material, including press releases and transcripts of live interviews, to generate AI-produced content. All AI-produced content is reviewed by EFN editors. 

Tags: equipment financemergers & acquisitionsVolvo
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