Volvo Buses to Sell Turku Plant

Volvo Buses has signed a letter of intent covering the sale of the body plant in Turku, Finland.

The plant in Turku produces bodies for the Volvo 9700 model. The Turku plant is claimed to be the smallest plant within Volvo Buses, primarily producing for the Nordic markets.

The company has determined that it is more efficient to sell the plant and purchase bodies from the new owner. In accordance with the letter of intent, the new owner will also continue to, under license, produce the Volvo 9700 for Nordic customers. Volvo Buses will keep the commercial responsibility for the Volvo 9700.

The buyer consists of a group of private Finnish investors and managers from Volvo Buses in Finland. The ambition is that the final agreement will be signed during the coming months and takeover can occur during September 2008.