Volvo CE to launch 50 new machines this year

Volvo Construction Equipment plans to launch more than 50 new products this year, and the company's new chief executive, Pat Olney says Volvo is well-positioned to capitalise on the global market recovery.

Speaking in Eskilstuna, Sweden in his first major press conference as chief executive Mr Olney said construction equipment markets around the world were strengthening.

"With recoveries now gaining speed in our traditional markets of Europe & North America and continued strong growth in BRIC [Brazil, Russia, India and China] markets, the prospects for the industry are brightening for those equipment companies with a global industrial and distribution footprint. But although necessary, good distribution is insufficient to succeed in the new-look construction industry. To prosper you have to offer customers products that are much closer suited to their local needs, resources and applications - and this requires a significant rethink of the traditional product offering."

Mr. Olney also highlighted more than 50 new products that are being introduced in 2011. "It is this combination of reliable, fuel efficient and appropriate products, high production quality and strong aftermarket support that are customers' order winning criteria today," he said.