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| Thursday, 1 September 2011, 15:00 HKT/SGT | |
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Source: Pacoma GmbH | |
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HONG KONG, Sept 1, 2011 - (ACN Newswire) - Pacoma GmbH announced today that it has entered into an agreement with Volvo Construction Equipment (VCE), a division of VOLVO AB, whereby Pacoma will acquire from VCE all the assets related to the manufacturing of hydraulic cylinders at their Hallsberg facility in Sweden. Further pursuant to this agreement, Pacoma is to be awarded a long-term, multi-million Euro business for the supply of hydraulic cylinders to Volvo. The transport of the machinery from Hallsberg Sweden to Pacoma's plant in Eschwege in north Hessia is planned for completion during the 2012 calendar year.
Volvo Construction Equipment, headquartered in Brussels, Belgium, is a division of VOLVO AB. A recognised leader in the construction equipment market, VCE has development and manufacturing sites around the world, and employs around 13,000 people globally, with an annual sales turnover of 5,4 billion Euros (2010).
Phil Liao, CEO of Pacoma, stated that "Volvo has always been a valued and important customer for Pacoma. This agreement confirms Volvo's commitment to a long-term partnership with Pacoma and re-affirms Pacoma's ability to deliver hydraulic cylinders conforming to Volvo's standard of high quality and innovation. VCE believes that our new plant in Fenghua, China, presents an excellent opportunity for further potential business development with them in China once it is fully operational in the early part of 2012."
Contact:
Pacoma GmbH
Stephen Wei
Email: s.wei@pacoma.com
Strategic Financial Relations Limited
Veron Ng
Phone: +852 2864 4831
Email: veron.ng@sprg.com.hk
Liza Ng
Phone: +852 2114 4914
Email: liza.ng@sprg.com.hk
Topic: Contract Awarded
Source: Pacoma GmbH
Sectors: Engineering
https://www.acnnewswire.com
From the Asia Corporate News Network
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