Volvo Group announces plans for restructuring European truck manufacturing

Volvo Group has announced its plans to restructure its European truck manufacturing footprint through which it intends to improve efficiency and reduce costs.

The Volvo Group has announced its plans for restructuring the manufacturing footprint of its European truck operations. In a statement, the company said that the steps to be undertaken over the next two years should "enhance the efficiency of manufacturing and thus strengthen competitiveness." On the matter, Olof Persson, Volvo's president and chief executive officer (CEO) said, "Today's European industrial structure for truck manufacturing is partly the result of acquisitions and we now intend to use the various plants in an optimal way… This will generate more efficient truck manufacturing operations, which will improve our potential to compete successfully in global markets".