In his first major speech since becoming president of Volvo Construction Equipment, Martin Weissburg updated the industry on the business rationale of Volvo CE’s acquisition of rigid and articulated hauler product lines from Terex Equipment Ltd (TEL).
“In addition to organic growth there has also been an opportunity for Volvo CE to fill product gaps via acquisition,” he said. “Volvo CE’s existing portfolio is suited to the quarrying and light mining segment, but it has long been clear that there was a rigid hauler gap in the product line up.
"With sales in mining forecast to rise in the mid-term, now is a good time to enter the market and the TEL haulers – both rigid and articulated – have a proven design and an established market population," Weissburg continued. "Volvo CE shall continue to produce and support Terex Trucks under the Terex brand, and will also continue to support Terex Trucks manufactured and sold prior to completion of the acquisition."