AB Volvo sells stake in Deutz engine business

AB 2394 Volvo has sold its entire holding in German engine maker 201 DEUTZ to institutional investors. The investment equated to approximately 25% of DEUTZ shares.

The sale of the investment is said to have no impact on the strong business relationship with AB Volvo however, which has been in place for many years. "We will continue to work together closely with Volvo and will remain an important supplier, particularly in the Construction Equipment application segment. Following the sale of the investment, we can focus on raising our profile as an independent manufacturer of innovative drive systems," said Dr Frank Hiller, chairman of the DEUTZ Board of Management.