December 19, 2014 9:26 AM ET

Machinery

Company Overview of Volvo Construction Equipment Corporation

Company Overview

Volvo Construction Equipment Corporation designs, produces, sells, finances, leases, and services new and used construction equipment. It offers skid steer, compact wheel, and backhoe loaders, as well as compact and wheeled excavators, forestry carriers, demolition equipment, pipe layers, dumpers, telescopic handlers, articulated haulers, motor graders, milling equipment, pavers, compactors, Volvo advanced combustion technology engines, and specialty paving equipment. The company also provides parts, such as care kits, care tracks, expander bolts, factory remanufactured components, filters, genuine Volvo parts, lubricants, undercarriages, and Volvo tooth systems. It sells its products to mar...

Avenue du Hunderenveldlaan 10

Brussels,  1082

Belgium

Founded in 1832

Phone:

32 2 482 51 11

Fax:

32 2 675 17 77

Key Executives for Volvo Construction Equipment Corporation

President and Chief Executive Officer
Age: 50
President
Age: 52
Chief Financial Officer and Senior Vice President of Finance
President of Volvo Aero and Head of Marketing
Age: 61
President of Volvo CE's Asian Sales Region
Compensation as of Fiscal Year 2014.

Volvo Construction Equipment Corporation Key Developments

Volvo Construction Equipment Corporation to Discontinue Production of Backhoe Loaders and Motor Graders

Volvo Construction Equipment Corporation announced that it will discontinue development and production of its current product line of Volvo-branded backhoe loaders and motor graders. In the future, these products will instead be manufactured by Volvo CE's Chinese company SDLG. As communicated in conjunction with the report on the third quarter of 2014, further cost-saving measures will be implemented in Volvo Construction Equipment (Volvo CE) to adapt the cost structure and to address the profitability of certain products. A review of the operation has now been performed, resulting in the decision by Volvo CE to discontinue product development and production of backhoe loaders and motor graders in Europe and Americas and transfer these operations to its Chinese company SDLG.

Volvo Construction Equipment Corporation Plans to Discontinue Development and Production of its Current Product Line of Volvo-Branded Backhoe Loaders and Motor Graders

Volvo Construction Equipment Corporation announced that it will discontinue development and production of its current product line of Volvo-branded backhoe loaders and motor graders. In the future, these products will instead be manufactured by Volvo CE's Chinese company SDLG. As communicated in conjunction with the report on the third quarter of 2014, further cost-saving measures will be implemented in Volvo Construction Equipment (Volvo CE) to adapt the cost structure and to address the profitability of certain products. A review of the operation has now been performed, resulting in the decision by Volvo CE to discontinue product development and production of backhoe loaders and motor graders in Europe and Americas and transfer these operations to its Chinese company SDLG. Combined with other efficiency enhancement measures, this will result in a workforce reduction of about 1,000 employees, of whom the majority are in Poland, the U.S. and Brazil. The current product lines of technologically advanced and high-spec Volvo-branded backhoe loaders and motor graders have addressed a relatively small premium segment of the market. SDLG-branded backhoe loaders and motor graders will better serve customer demands in the large and growing value segment of the market. Currently, motor graders are built at Volvo CE's production sites in Shippensburg, U.S., and Pederneiras, Brazil, while backhoe loaders are manufactured in Pederneiras, Brazil, and Wroclaw, Poland. Ceasing European production of backhoe loaders will result in the closure of Volvo CE's operations in Wroclaw. The measures within Volvo CE are a part of the series of new activities within the increased scope of the group's Strategic Program 2013-2015, which was published in conjunction with the report on the third quarter 2014. Combined, these activities are expected to reduce the group's structural costs by SEK 3.5 billion. Together with ongoing activities, the ambition in the Strategic Program is to reduce the group's structural costs by SEK 10 billion compared to 2012 and that all activities are implemented by the end of 2015 with a full-year savings-effect in 2016.

Volvo Construction Equipment Appoints Dimitrov Krishnan as New Head for India

Volvo Construction Equipment (Volvo CE) has hired Dimitrov Krishnan as new head of India, effective October 15, 2014. Dimitrov Krishnan replaces A.M. Muralidharan who relocates to Singapore as Vice President and head of a Commercial Management and Dealer Development for Volvo CE, Asia Pacific region. In his new role, Dimitrov Krishnan is tasked with further strengthen Volvo's leading positions in Indian construction equipment industry (premium segment). In 2006, he joined Volvo CE's Asia Pacific regional office in Singapore, responsible for Dealer development, After sales business and Marketing. He has been a member of the Volvo CE Region APAC executive management team since 2007.

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