Volvo Construction Equipment (Volvo CE) and the Ammann Group have reached an agreement whereby the Ammann Group will acquire Volvo CE’s global ABG Paver Business including ABG in Hameln, Germany.
The agreement will benefit both companies by strengthening the product portfolio and distribution network of the Ammann Group, while allowing Volvo CE to continue to focus on developing sustainable solutions and future technologies and services, in line with the company´s strategic direction.
The Ammann Group is a Swiss-based, family-owned, world-leading supplier of mixing plants, machines and services to the construction industry with core expertise in roadbuilding and transportation infrastructure, which they intend to develop further through the ABG Paver business expansion.
The number of employees impacted as a result of this announcement is approximately 400.
Customers will continue to still have access to the ABG Paving range, as well as aftermarket and other services, through the Ammann Group dealer network and some selected Volvo CE dealers.
The transaction is subject to regulatory approvals and works council consultations, and closing is anticipated in the first half of 2024.