Renault Trucks Defense has finalised the acquisition of French automotive manufacturer Panhard. This transaction is valued at SEK 538m (US$695.53m).
Volvo Group has stated that this acquisition will not have any significant impact on the group’s earnings, or financial position.
Renault Trucks Defense is part of Volvo Group’s Governmental Sales business area. Panhard specialises in the manufacture of small armoured vehicles, adapted for defence operations.
Last year, Panhard posted sales of €81m, resulting in operating profit of €9.4m. The company employs around 300 people.
