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28 July 2012

Renault Trucks Defense acquires Panhard

  • Written by Aitor

Renault Trucks Defense, including the Volvo Group, has acquired the French carmaker Panhard, a private enterprise specializing in the manufacture of light vehicles adapted for defense operations.

In 2011, Panhard reported sales of 81 M euros. Its operating profit amounted to 9,4 M. The company has approximately 300 employees.

With this acquisition Volvo wants to get into production and sales operations adapted for defense and international security vehicles. Renault Trucks Defense has approximately 500 employees, mainly in France. The transaction, expected to close during the fourth quarter of 2012 not expected to have a significant impact on the results of the Volvo Group or its financial position.

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