AB Volvo sold its entire stake in Deutz AG to institutional investors, Deutz announced. The investment equated to approximately 25 per cent of Deutz shares.
AB Volvo sold its entire stake in Deutz AG to institutional investors, Deutz announced. The investment equated to approximately 25 per cent of Deutz shares. The shares in Deutz AG are thus now in free float, increasing the overall liquidity of Deutz shares.
The sale of the investment has no impact on the strong business relationship with AB Volvo, which goes back many years, Deutz said.
"We will continue to work together closely with Volvo and will remain an important supplier, particularly in the Construction Equipment application segment,” said Dr. Frank Hiller, Chairman of the Deutz Board of Management. “Following the sale of the investment, we can focus on raising our profile as an independent manufacturer of innovative drive systems."
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.
