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Volvo in China

PLANT BUSINESS

Volvo is to buy 70 per cent of Chinese wheeled loader firm Lingong. The firm has a turnover of £133 million and is the fourth largest maker of loaders in the country with a market share of 11 per cent. Tony Helsham, Volvo Construction Equipment president, said: 'The co-operation with Lingong allows us to strengthen our position, serving customers with different offerings beyond our current premium products.'

He added that production in Sweden, the USA and Brazil would continue.