Volvo Aero to sell its U.S. service business

  • 19-Jul-2010 02:59 EDT

Volvo Aero Services is a major provider of aftermarket services and also a distributor for Embraer, Hamilton Sundstrand, Honeywell, and Boeing.

Volvo Aero signed an agreement to sell its Boca Raton, FL-based subsidiary Volvo Aero Services. The sale of Volvo Aero Services is part of Volvo Aero’s strategy to focus on its core operations of developing and manufacturing components for aircraft engines, combined with an effort to reduce tied-up capital. The operations pertaining to maintenance of engines and gas turbines currently carried out in Trollhättan will not be impacted by the transaction. The company did not disclose the name of the investment company that plans to acquire Volvo Aero Services.

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