News
14.11.2011
Investments in the factory construction
Volvo Construction Equipment Company has decided to invest 350 million Swedish kronor in factory construction for the excavator production in Kaluga (Russia Federation). It will be located on a plot of land of 15 hectares purchased in 2007, the production area is 20660 m2. These investments underscore the importance of the Russian market for the Volvo CE company.
There is the plan to produce 5 models of Volvo excavators at the factory in Kaluga. These models are EC210, EC240, EC290, EC360 and EC460. Production start is planned on the I quarter of 2013.
"To produce cars where they are sold - it's the part of our strategy. And thanks to our partnership with «Ferronordic Machines" LLC in Russia, we have access to the growing customer base, "- said Pat Olney, the executive director and president of Volvo CE. He also added: "We see the strong commitment to the company "Ferronordic", which invests substantial funds in ensuring of its further expansion in the Russian market."
In the specialist’s estimation the growing market of the construction equipment will reach about 25000 units by the end of 2011.
