AB Volvo has signed a non-binding memorandum of understanding with DEUTZ AG with the intention to explore the potential to extend the long-term cooperation with a joint development of the next generation of medium-duty engines for off-road applications.
The memorandum of understanding also aims at analyzing the conditions for establishing a DEUTZ majority-owned joint-venture company in China for the production of medium-duty engines for off-road applications. The production company is intended to provide support for the Volvo Group's anticipated growth in off-road applications in Asia.
Any implementation requires both companies to agree on the final terms and conditions in a binding contract.
April 5, 2012
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http://www.cisionwire.com/volvo/r/ab-volvo-signs-memorandum-of-understanding-with-deutz-ag,c9243884
http://mb.cision.com/Main/39/9243884/1542.pdf