Benteler Automobiltechnik and Volvo Car Corporation have signed a contract in Gothenburg, Sweden, for the sale of 100% of the Volvo Chassis Center (CCG) in Ghent, Belgium.

The full transfer of CCG to Benteler is scheduled for January, 2003 when it will be renamed Benteler Automotive Belgium N.V.

The manufacturing site, which formerly belonged to the Volvo Car Corporation, produces chassis modules for the Belgian Volvo assembly plant in Ghent. About 100 employees working at CCG will be taken over by Benteler.  It is expected that new projects will significantly increase the number of employees on the site during 2003-2004.

Internationally, Benteler Automotive operates just-in-time chassis module plants. The plant in Ghent is its 19th European site.

The proximity to the Volvo plant allows for the in-sequence delivery of complex chassis modules to the final assembly line.

Benteler AG operates from 40 production plants in 18 countries and employs 17,500.