Latest news with #MelkerJernberg
Yahoo
2 days ago
- Automotive
- Yahoo
Volvo CE to invest $260.3m in crawler excavator production across three global sites
Volvo Construction Equipment (Volvo CE), a division of the Volvo Group, has unveiled a strategic global investment plan to bolster its crawler excavator production. The initiative, which aims to meet increasing customer demands, will enhance the company's operational efficiency and resilience by localising production and reducing dependency on long-distance logistics. The investment, totalling approximately Skr2.5bn ($260.3m), will be distributed across three primary production locations in South Korea, Sweden, and North America, with the largest allocation earmarked for the Changwon factory in South Korea. These investments are scheduled to be made over the forthcoming years. This strategic move is set to significantly increase capacity and flexibility, enabling Volvo CE to effectively meet both current and future customer needs. By establishing production capacity closer to key markets, the company anticipates shorter delivery times and the ability to offer solutions tailored to regional requirements. This approach also serves to lower supply chain risks and manage economic and regulatory challenges more adeptly. Furthermore, the investment is expected to lower carbon emissions by minimising transportation distances and fostering closer collaboration with local suppliers and customers. Volvo CE head Melker Jernberg said: "We understand the need to respond to growing demand and are excited to expand our facilities to serve customers better. "This investment underscores our commitment to quality, innovation and competence, allowing us to deliver even greater value. This expansion demonstrates our efforts to respond to customer demand by investing in our crawler excavator business closer to key markets and customers." The Changwon site in South Korea will undergo upgrades to secure global volumes and capabilities within Asia. In Europe, Sweden has been chosen for the production of crawler excavators, with the final decision on location, scope, and timing to be made later in 2025. Additionally, an excavator assembly line will be installed in the existing factory in Shippensburg, US, to cater to the North American market. The Changwon factory is a key component in Volvo CE's global industrial network, holding essential competencies in manufacturing, product development, and purchasing. "Volvo CE to invest $260.3m in crawler excavator production across three global sites" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Korea Herald
2 days ago
- Automotive
- Korea Herald
Volvo Construction Equipment to expand Korean plant
Swedish heavy machinery builder commits largest share of $264m global investment to Changwon factory in South Gyeongsang Province Volvo Construction Equipment has decided to expand and upgrade its Korean production site in Changwon, South Gyeongsang Province, as the Swedish heavy machinery manufacturer looks to better cope with growing customer demand worldwide. According to Volvo CE on Wednesday, the company will invest approximately $264 million to bolster its crawler excavator footprints at three main production sites in Korea, Sweden and North America. The largest share of the investment is slated for Korea's Changwon factory. Although the allocation of funds between the sites was not disclosed, the company said the investments would be carried out over the coming years. Volvo CE said the investment plan includes upgrading the Changwon site to secure global volumes and capabilities in Asia while leveraging supply chain capabilities to enhance efficiency, reduce costs and improve responsiveness to market demands. Volvo CE also pointed out that the Changwon plant remains an important factory in the company's global industrial network as it holds key competencies for manufacturing, product development and purchasing. The Changwon plant, which exports over 80 percent of the total production, has the biggest excavator manufacturing capacity within the Volvo Group worldwide. For the rest of the investments, Volvo CE said the final decision regarding the location, scope and timing for the Swedish expansion will be made later this year. The company will set up an excavator assembly line at its existing factory in Shippensburg, Pennsylvania, for the North American market. By adding production capacity near key regions, the heavy machinery maker expects to improve operational efficiency and resilience while ensuring shorter delivery times and offering customized solutions for regional needs. The global expansion is also aimed at lowering carbon emissions by minimizing transportation distances, the company said. "We understand the need to respond to growing demand and are excited to expand our facilities to serve customers better," said Melker Jernberg, head of Volvo CE. "This investment underscores our commitment to quality, innovation and competence, allowing us to deliver even greater value. This expansion demonstrates our efforts to respond to customer demand by investing in our crawler excavator business closer to key markets and customers."
Trade Arabia
28-01-2025
- Automotive
- Trade Arabia
Volvo CE unveils brand new lineup of its articulated haulers
Volvo CE, a global leader in construction solutions and services, today (January 28) announced the launch of a new lineup of world-class articulated haulers which is set for stepwise introductions on markets globally during 2025. Delivering superior innovation, the new range is designed to meet the modern-day need for connected solutions, productivity performance and emission reduction, with the human at the centre, said the company in a statement. Volvo CE's update represents a complete overhaul of its existing, globally recognized, best-in-class articulated hauler lineup, now ranging in size from A25-A60. Unveiling its biggest and boldest articulated hauler till date, the Swedish group said an entirely new model, the A50, has been introduced, increasing customer opportunities in the demanding hauler segment. The all-new A50 model, which is available in selected markets, underscores Volvo CE's commitment to meeting the evolving needs of its customers by enhancing operational capabilities and offering more choices. The range delivers key innovations, such as a new electronic system, upgraded cab for superior operator comfort and safety, and an in-house developed transmission designed to adapt to future drive-trains, said the statement. With over 35% of its total range renewed in the last 12 months, this marks the latest step in Volvo CE´s largest product portfolio renewal in decades. The updated models mark a significant technological leap forward thanks to key innovations such as a new electronic system and an in-house developed transmission, delivering fuel efficiency improvements of up to 15% depending on model and industrial application. Furthermore, the machines' new state-of-the-art design has been constructed in such a way as to adapt over time to fit future drive-trains, it stated. The result is cutting-edge, safe, and productive machines that have been purpose-built to lower total cost of ownership and respond to the challenges of today and tomorrow across the toughest of worksites, especially when combined with Volvo CE's pioneering digital solutions, such as Haul Assist with onboard weighing, it added. Melker Jernberg, President of Volvo CE said: "For nearly 60 years we have been leading the way with our range of articulated haulers and now with today´s launch of a new range of outstanding products, including one completely new model, we prove that there are no limits to our capacity for innovation."
