Report: Ford, Geely Reach Agreement on Sale of Volvo - Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars
Ford Forum Ford Forum

» Auto Insurance
» Featured Product
» Wheel & Tire Center

Go Back   Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Ford Forum News & Polls > Ford News & Ford Forum News
Register Home Forum Active Topics Photo Gallery Auto Loans Garage Mark Forums Read Auto Escrow

Ford News & Ford Forum News This section contains any Ford related news as well as news related to the FordForums.com website. Only Administrators may start new threads in this section.

FordForums.com is the premier Ford Forum on the internet. Registered Users do not see the above ads.
Reply
 
LinkBack Thread Tools Display Modes
Old 12-23-2009, 08:13   #1 (permalink)
Administrator
 
administrator's Avatar
 
Join Date: Feb 2006
Posts: 802
Garage
Report: Ford, Geely Reach Agreement on Sale of Volvo


Ford Motor Co. and Zhejiang Geely Holding Group (Geely) have reached a general agreement on the terms of a sale that would see Ford's loss making Volvo unit sold to the Chinese automaker. An initial agreement is set to be signed in the first quarter of 2010, with the transaction complete in Q2.

Ford said in a statement that the sale, "would ensure Volvo has the resources, including the capital investment, necessary to further strengthen the business and build its global franchise, while enabling Ford to continue to focus on and implement its core ONE Ford strategy."

While a general agreement has been reached, some details still need to be worked out and Geely is still working to secure funding from the Chinese government. Ford has said that it does not intend to keep a stake in Volvo once the sale is completed.

The sale of Volvo would mean the complete dismantling of Ford's premium group of automaker, which at once point also included Aston Martin and Jaguar Land Rover. It is thought that the sale of those entities helped Ford avoid filing for bankruptcy protection.

Meanwhile, rival American automaker General Motors has had far less luck in selling off its brands, with sales of both Hummer and Saab pending (but constantly in doubt), while the domestic Saturn brand is now scheduled to be eliminated after a deal to sell it to the Penske Automotive Group fell through.

More: Report: Ford, Geely Reach Agreement on Sale of Volvo on AutoGuide.com
administrator is offline   Reply With Quote
Sponsored Links
Advertisement
 
Reply

  Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Ford Forum News & Polls > Ford News & Ford Forum News



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On


Powered by vBadvanced CMPS v3.2.2

All times are GMT -7. The time now is 13:00.



Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0
Garage Plus vBulletin Plugins by Drive Thru Online, Inc.