Volvo CE to Sell 70% Stake in Shandong Lingong Construction Machinery for 8 Billion Kronor

MT Newswires Live

2025/06/24

Volvo Construction Equipment agreed to sell its 70% stake in China-based Shandong Lingong Construction Machinery to a fund mainly owned by the Lingong Group for 8 billion Swedish kronor.

The move stemmed from a need to "re-focus" amid rising competition, Melker Jernberg, head of Volvo CE, said in a Tuesday news release.

The transaction is expected to be completed in the second half of 2025, subject to regulatory approvals and other conditions.

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