Press Release
Date of issue   Mar 23, 2011 | ID: 37269

Volvo Car Corporation takes over the ownership of Pininfarina Sverige AB

 

Volvo Car Corporation and Pininfarina S.p.A. has agreed upon the termination of the joint venture agreement regarding Pininfarina Sverige AB and its operations in Uddevalla, Sweden.

 

This means that Volvo Car Corporation, in line with the agreements, will take over the complete ownership of Pininfarina Sverige AB, which in its turn owns the plant in Uddevalla.
This will take place in May 2013.

 

The operations, which at present is the manufacturing of the Volvo C70 convertible, will continue without changes. Volvo Car Corporation will assume the full responsibility for the employees in the Uddevalla plant.
The only formal change is that Volvo Car Corporation will be the sole owner of the operations in Uddevalla.

The joint venture between Pininfarina S.p.A. and Volvo Car Corporation was created in 2003. The plant in Uddevalla has successfully manufactured the Volvo C70, which received the J D Power Best in Class quality award 2010.

 

"Epochal changes have occurred in the last three years, particularly in the automotive world. Pininfarina's future rests on design and engineering services, sustainable mobility and brand value enhancement. This is why, after a long-lasting and very successful cooperation with Volvo Car Corporation, we are now approaching our future on different basis", says Silvio Pietro Angori, CEO Pininfarina S.p.A.

 

"The joint venture between Volvo Car Corporation and Pininfarina has been fruitful, a true win/win situation. When we now put an end to our cooperation it is with a mutual understanding and in a time with new challenges for both companies, says Stefan Jacoby, President & CEO, Volvo Car Corporation.

Media Contacts

 

Per-Åke Fröberg

Director Volvo Cars Heritage

Volvo Car Group

 

Phone: +46 31 3257654

Mobile: +46 31 3257654

per-ake.froberg@volvocars.com

 

   
Related Images
ID: 7834 ID: 9410 ID: 33593

Volvo Car Group

PVH50, 50200

SE-405 31 Göteborg

Sweden

Phone: +46 31 59 65 25

Fax: +46 31 54 40 64

https://www.media.volvocars.com/

 

Registered Office
Göteborg, Sweden
Registration No.
556074-3089

Descriptions and facts in this press material relate to Volvo Car Group's international car range. Described features might be optional. Vehicle specifications may vary from one country to another and may be altered without prior notification.