Volvo Trucks and Jiangling Motors said they would not pursue the previously announced transaction involving the acquisition of JMC Heavy Duty Vehicle and its manufacturing site in Taiyuan, Shanxi province, China.
“The two parties will not pursue the transaction due to that the conditions for closing the transaction were not met. Volvo Trucks will continue to export trucks to customers in China,” a statement said.
“We will continue the efforts to develop our presence,” said president Roger Alm.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData