Volvo Group has decided to discontinue the process to divest the Governmental Sales business area.
“Our Governmental Sales operation has a positive development and a strong order book. We have previously announced our intention to divest this business, but the offers we have received do not reflect its value. We have therefore decided to discontinue the divestment process”, says Jan Gurander, Deputy CEO and CFO at Volvo Group.
Governmental Sales account for approximately1.5% of Volvo Group’s total sales. The business, which has about 1,300 employees, most of whom are in France, manufactures and sells specially designed vehicles to governments, the defense industry, peacekeeping forces and aid organizations.