/ 21 October 1999

VOLVO TARGETS SOUTHERN AFRICA

SWEDISH vehicle manufacturer Volvo AB announced on Wednesday it plans to invest in Southern Africa as part of a globalisation strategy. The company is currently involved in talks with the South African-based Scandinavian Motor Corp, in attempts to increase Volvo’s presence in Southern Africa. Scandinavian Motor Corp said on Wednesday that advanced negotiations are underway for the two companies to join efforts in taking over franchises in the region.