Volvo CEO Johansson says eyes acquisitions
World number two truck maker Volvo AB is on the lookout for acquisitions despite the global financial crisis, its chief executive told German Handelsblatt newspaper in an interview published on Friday.
"I expect a new wave of consolidation," Leif Johansson said, adding the company had not completed its purchasing list but declining to give details.
Like rivals, Volvo is also suffering from the financial crisis with falling shipments and a weak order trend.
But Johansson said Volvo had grown in the past after economic slumps, citing acquisitions of the construction machine operation from Samsung and also of the heavy truck units of Renault and Mack.
"It's my ambition to use this crisis as well constructively and productively," he said.In Sweden, Volvo shares were up 2 percent.
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