Volvo CEO Sees More Trucking Consolidations
Volvo AB’s chief executive officer said he sees more consolidation in the trucking industry, in part because there are too many producers, particularly in China, Bloomberg reported Wednesday.
Leif Johansson said he expects further takeovers and alliances in the trucking industry, saying consolidation would be normal as a result of the financial crisis, Bloomberg said, citing the publication Manager magazine.
There are “far too many truck producers,” particularly in China, Johansson said in an interview with the magazine.
Separately, Volvo received an order from DHL for 1,800 trucks in the United Kingdom, Finland and Sweden, Bloomberg reported.
The trucks will be delivered within the next two years, DHL’s parent company, Germany-based Deutsche Post, said in a statement on its Web site.
