Volvo gains

Sweden: Volvo Construction Equipment reported an +11% increase in sales to SEK 7.18 billion (US$ 1.02 billion) for the first quarter of 2005. Operating profit improved +59% to SEK 558 million (US$ 79 million), compared to the first quarter of 2004. The company is considering a US$ 15 million expansion of its two factories in North America, in Ontario, Canada and North Carolina, US. The aim is to capitalise on the region's rising demand for construction equipment and to offset the impact of the weak US Dollar. It is also considering extending its construction equipment factory in Shanghai, China.