According to the results of the research on Volvo and Nissan Diesel's just-in-time cooperation projects, the annual cooperation revenue between Volvo Group and Japanese truck manufacturer Nissan Diesel in five years will be approximately 200 million euros, or slightly more than 1.8 billion Swedish kronor. Nissan Diesel will get more than half of the total cooperative income, and the remaining share will belong to the Volvo Group.
A press conference will be held in Tokyo today. Cooperative revenue figures will be announced at the meeting. Nissan Diesel will also release its first-half operating report. The Volvo Group increased its holding of Nissan Diesel at the end of September, so both parties have stepped up their progress in identifying cooperation opportunities. The Volvo Group and Nissan Chai personnel jointly formed a coalition office to manage cooperative affairs. The office has now made preliminary arrangements for various existing cooperation opportunities and their financial results. According to the results of the joint assessment, the total annual cooperative revenue in five years is expected to reach 200 million euros, or slightly more than 1.8 billion Swedish kronor. The yield of Nissan Diesel will account for more than half.
“The largest scale benefit and the most profitable one that can easily realize the cooperation will be the spare parts procurement field. The positive impact of the increase in output will enable Nissan Diesel to make a big profit.†Volvo Group Acting Chief Executive Officer, Yomahai, who is responsible for expanding the international market Jorma Halonen said. "Cooperation will also have a positive impact on more production and business units, including product development, engines, transmission systems, and distribution and sales."
In March this year, the Volvo Group has purchased 13% of Nissan Diesel's shares and assets from Nissan Motor Co. In addition, it has the option to purchase 6% of its shares within four years. At the end of September, the Volvo Group obtained Nissan Diesel’s 57.5 million preferred shares while honoring this option. These preferred stocks will be converted in phases and by April 1, 2008 Volvo’s shareholding in Nissan Diesel will reach 41.9%. All the preferred stocks will be converted in 2014, when the ownership and assets of Nissan Diesel owned by Volvo will reach 46.5%.
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