INTERNATIONAL (July 7, 2017) — Volvo Construction Equipment (Volvo CE) has announced that it is divesting its wholly owned British dealership to long-term distribution partner SMT.
The deal was signed on July 4th and is now followed by an employee consultation period before becoming effective (intended to be on 31st August 2017). The sale includes the distribution rights for Volvo-branded construction equipment machines, parts and aftersales in Great Britain, as well as Volvo Construction Equipment Great Britain’s headquarters in Duxford, Cambridgeshire, its nationwide operations, most other assets and the transfer of all employees. The existing management structure will remain in place.
Commenting on the deal, Volvo CE President Martin Weissburg said: “Volvo CE’s distribution in Great Britain is now in the hands of an independent and strategically aligned distribution partner, led by an experienced leadership team. This move supports the general transformation program that is improving the long-term competitiveness of Volvo CE.”
For more information, visit Volvo CE.