AB Volvo has formally taken over UD Truck’s operations in Thailand after settling a two-year dispute with Hong Kong-listed Tan Chong International.
AB Volvo acquired the worldwide UD Truck business in 2007 with the takeover of Japan’s Nissan Diesel Motor. Tan Chong was licensed to assemble and distribute Nissan Diesel trucks in 2002.
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Volvo has been managing the UD operations over the last two years and the formal takeover follows an undisclosed financial settlement with Tan Chong.
AB Volvo plans to invest THB 3 billion to expand production capacity at its Thailand Swedish Assembly (TSA) plant to accommodate UD truck production, as well as expanding its network.
