Ford is looking to sell the Swedish brand Volvo which it acquired in 1999. The tag is at $6 billion which is close to how much Volvo was acquired. Ford is using the expert advice of JPMorgan Chase & Co.
The move is considered by Ford amid the weakening of the auto industry and global economy. The company is looking to boost its finances for operations and aims to partake in the $9 billion aid from the US government.
Volvo was considered the top caliber vehicle for safety last January of 2008. Ford is counting on the confidence of the market on the Volvo brand to attract bidders.
Any heavy discount will be favorable to the buyer but will not be ideal for Ford. The choices may also be among Chinese car producers, business groups arranged by the Swedish government, or by buy out companies.
The Renault group of France has clearly stated that they are not interested in Volvo. Same is true for Korea based Hyundai.
SAIC from China declined to comment but are seen by experts as a potential bidder. Another buyer from the Far East is the Dong Feng Motor Group.
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This video is pretty amazing. In just over eight minutes the swedish label’s history is given a rundown. Some great cars, and a very comprehensive vid. Enjoy!
In the early seventies Volvo acquired the passenger car department Dutch company of the DAFS and marketed its small cars as Volvos, before he released the Dutch-arranged Volvo 340, which continued, to one of the wholesale cars in the BRITISH market in the eighties to be Volvo group, as one of the largest manufacturers of the commercial carriers in the world, took the initiative, in order to sell its automobile production 1998, in order to direct its efforts toward the market for commercial carriers completely.
Ford saw on the other hand advantages, if it acquired profitable prestige intermediary size a European car manufacturer, well famous for his security of aspects, than adding to its automotive Group.
The buy-back of the Volvo cars was announced 1998 on January 28, and in the following year the acquisition was accomplished at a price by $645 billion USD. Resulting from the repulsion of capital abilities the Volvo registered trade marks is used now by two different companies:
• Volvo group – a manufacturer of the commercial carriers, the etc. possessed by Swedish interests. * Volvo car – a manufacturer of the automobiles possessed by Ford Engine Company, in its automotive Group.
• Volvo Car Corporation is a part of the FoMoCo PAGS beside Jaguar-und land vagabond of Great Britain. Since its acquisition into the PAG, which grew the company in its distance of the carrier and year by year a larger competitor in the Luxux will segment increasingly.
• Volvo reached not the heights of MERCEDES BENZ and competes Jaguar or even sporty/luxury the manufacturer BMW and Audio. Volvo evenly with Acura, Cadillac, Lincoln and Saab.
The company group of Volvo is a Swedish supplier of the commercial solutions in transport vehicles, they are providing the products like the trucks, buses and building machinery, systems for driving for marine and industrial applications transports, they also have components for aerospace and financial services.
The automatic manufacturer then was founded, April 14, 1927 in the town of Gothenburg, as favors unexpected of manufacturer SKF. Volvo is delisted from the NASDAQ this year, last June, but the remainders are enumerated in Stockholm exchange.
Volvo refers to “I roll” from Latin, combined “volvere”. The Volvo named in the beginning was recorded in, 1911 the month of May as a company separated in SKF AB and due to the fact that have a registered mark and their intention to be employed for a special series in the ball bearing, but this thought has been only employed for one short period and SKF already choose to employ “SKF” as trademark for their products of bearing.
This company AB Volvo did not have any activity up to August 10, of 1926 when the person in charge for the sales of SKF Assar Gabrielsson and engineer Gustav Larson, after one year of preparations implying the production of ten prototypes, installed the businesses of car-manufacture Volvo ab at the group of SKF. Volvo ab was presented at the Stock Market of Stockholm in 1935 and SKF then decided to sell its shares with the company.