Renault Trucks Defense, included in the Volvo Group, has acquired the French car manufacturer Panhard, a private company specialized in the manufacture of light transport vehicles adapted for defense operations.
In 2011, Panhard registered sales of 81 m of euros. Its operational benefit amounted to 9.4 M. The company has approximately 300 employees.
With this acquisition Volvo wants to enter the production and sale of vehicles adapted for international defense and security operations. Renault Trucks Defense has approximately 500 employees, mainly in France. The transaction, which is expected to end during the fourth quarter of 2012, is not expected to have a significant impact on the results of the Volvo Group or its financial situation.
