Volvo Trucks terminates plan to acquire JMC heavy-duty truck subsidiary
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By Bradley Osborne - 16th May 2023
Sweden / China – Volvo Trucks Corporation of Gothenburg, Sweden has announced it will no longer be acquiring the heavy-duty truck division of automotive manufacturer Jiangling Motors Corporation Ltd (JMC), based in Nanchang, Jiangxi, China.
Had the deal gone ahead, Volvo Trucks would have acquired JMC Heavy Duty Vehicle Co Ltd and its manufacturing facility in Taiyuan, Shanxi, where activities such as stamping, welding, manufacture of cabs, painting, and final assembly take place. According to Volvo Trucks, the transaction was terminated because the closing conditions were not met.
