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VOLVO CE FINALIZES ACQUISITION OF CEDE GROUP

Volvo Construction Equipment (Volvo CE) has received all necessary approvals for the earlier announced acquisition of Swedish machine adaptation specialist CeDe Group and the deal is now closed.

“We are delighted to move forward in our partnership with CeDe Group. Its engineering excellence and understanding of delivering often unique special applications to customers is a useful addition to Volvo CE’s growth strategy,” said Mr. Melker Jernberg, President of Volvo CE.

“This cooperation secures CeDe’s future,” added CeDe Group’s representative Krister Johnsson. “We are extremely pleased to have joined the Volvo CE family of companies. With our already long and good relationship with Volvo CE and deep understanding of its products, we are excited at the opportunities to develop our services and expand our reach into new markets.”

About CeDe Group

CeDe Group is based in Malmo, Sweden, and the deal includes its intellectual property, operations, other assets and staff of circa 45 full-time employees. CeDe Group has a good reputation in Scandinavia as a low-volume adaptor of construction and mining machinery for special applications. Working for several leading OEMs, including Volvo CE and its dealers, adaptations include developing new bodies for haulers (e.g. fuel, water, waste.), rail conversions for wheeled excavators, as well as conversions for underground mining applications etc. The company was formed in 2000 and can trace its roots back to Volvo’s original excavator business, Åkerman.

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