Recently, Volvo Construction Equipment Investment (China) Co., Ltd. officially signed an agreement to settle in the Linyi Economic and Technological Development Zone in Shandong. According to reports, this is the first Fortune Global 500 advanced equipment manufacturing company introduced to an old revolutionary base area in China.

　　Under the agreement, Volvo Construction Equipment will effectively integrate the operations of its existing Volvo Construction Equipment Trading (Linyi) Co., Ltd. and the Linyi Branch of Volvo Construction Equipment (China) Co., Ltd. in the Linyi Economic and Technological Development Zone, achieve upgrading and transformation, and establish Volvo Construction Equipment (China) Co., Ltd. as a wholly owned subsidiary, transferring the R&D, production and marketing of core components for construction machinery to Linyi, and increasing the annual production capacity of large wheel loaders from 5,000 to 10,000 units.

　　Regarding this cooperation, Xu Futian, Deputy Director of the Standing Committee of the Linyi Municipal People's Congress and Party Secretary of the Linyi Economic and Technological Development Zone Party Working Committee, is full of expectations: Volvo will gradually bring the production, marketing, remanufacturing and procurement settlement center of new products into the Linyi Economic and Technological Development Zone, helping Linyi build a 100-billion-level high-end equipment manufacturing industrial cluster. Lin Binhua, Senior Global Vice President of Volvo Construction Equipment, said: “This investment does not change our established development strategy in any way; it is an extension of the development strategy, because we have always used a dual-brand strategy——the Volvo brand and the LINGONG brand.”