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Volvo Agrees to Buy Nissan Diesel for $1.1 Billion

The world's second-largest truck company, Volvo AB, has agreed to buy Nissan Diesel Motor Co. for $1.1 billion in a bid to gain a greater foothold in the booming Asian market. Asia has been a weak spot for Volvo thus far, comprising just seven percent of its sales in 2006. By buying Japan's fourth largest truck producer, Volvo should be able to establish a far more secure position through Nissan's regional brand name and production capabilities. Shares were up slightly in Volvo and hugely in Nissan Diesel indicating the market's largely ... Read more →

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