Volvo Construction Equipment (Volvo CE) has finalized the sale of its stake in Shandong Lingong Construction Machinery Co (SDLG), a company based in China. The equity was sold to a fund mainly owned by the Lingong Group for SEK 8 billion, equivalent to 6 billion RMB. According to Volvo CE, this transaction is expected to result in an increase of about SEK 1 billion in operating income at closing, though this figure may be affected by currency changes.
Looking ahead, Volvo CE stated it will focus on specific customer segments within China and plans to strengthen its use of local suppliers.
The Volvo Group provides various transport and infrastructure solutions worldwide, including trucks, buses, construction equipment, power solutions for marine and industrial applications, as well as financing and services aimed at improving customer productivity. Established in 1927 and headquartered in Gothenburg, Sweden, the group employs over 100,000 people and operates in nearly 190 markets. In 2024, the company reported net sales of SEK 527 billion (EUR 46 billion). Its shares are traded on Nasdaq Stockholm. More information can be found at https://www.volvogroup.com/en/.
Journalists seeking further details can contact Claes Eliasson, Head of Media Relations at Volvo Group.
