Volvo Construction Equipment Strengthens Forestry Offering
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Assets of Canadian timber handling machinery manufacturer, Technologies Direct, have been acquired by Volvo Construction Equipment (Volvo CE) in a move that will extend its forestry application product range.
Volvo CE has acquired certain assets of Canadian forestry machinery manufacturer Technologies Direct. The assets include some current machinery and all intellectual property rights owned by Technologies Direct. The transaction covers the rights to dedicated tracked machines for the forestry industry - primarily, feller-bunchers and processors/harvesters.
With focus on providing ranges of machines suited to specific customer applications, this purchase will strengthen the company's capability in the forestry segment. Volvo CE's president and chief executive officer Tony Helsham has in the past emphasized the company's intention to 'get deeper into the forest' and broaden its range of timber handling products, either by internal development or acquisition. This purchase does just that, and the expanded product line allows Volvo CE to now offer specialist machines in over two-thirds of the product categories in this important segment of the heavy equipment industry. Volvo CE is now a leading global player in forestry-related equipment and solutions.
The acquired products are currently undergoing evaluation and more details regarding the nature of their introduction to the Volvo CE product range will be issued in the near future.
Winston Leonard
Volvo Construction Equipment North America, Inc.
Phone: 828-650-2043
E-mail: winston.leonard@volvo.com
