Volvo CE confident in US recovery
By Helen Wright18 May 2012
Volvo Construction Equipment president and CEO Pat Olney is bullish about North American market prospects, and claims the turnaround that began last year is gathering pace.
Speaking nearly a month after the results were announced, Mr Olney said the manufacturer was in a good position to capitalise on improving market conditions in the region.
"We are outperforming the market conditions by offering a young fleet of innovative products tailored to meet the needs of specific customer groups, combined with a strong and loyal distribution network and a substantial investment programme," he said.
Mr Olney added, "We are continuing to invest throughout the business cycle in our people, our production facilities and distribution networks. With a technologically advanced fleet of innovative - and award winning - products, we have made a strong commitment to the Americas and regard it as a home market for the company."
Volvo CE plans to introduce over 60 new machines in 2012 - part of a comprehensive overhaul of its product range in line with the EU Stage IIIB/US Tier 4 Interim exhaust emissions requirements. These new laws require manufacturers to use more environmentally friendly engines in their equipment, and many are taking the opportunity to overhaul entire product lines at the same time.
The company also plans to spend US$ 100 million in a product and manufacturing expansion programme in North America that could eventually see its Shippensburg, Pennsylvania, US, factory produce 70% of the machines Volvo CE sells in North America.