Nors Group Purchases Strongco and Takes Over its Volvo CE Locations Across Canada
N
ors Group (Nors), a global leader in transport solutions and construction equipment, has purchased Strongco Corporation (Strongco) and will take over its Volvo Construction Equipment's Canadian dealerships and distribution.
The Portugal-based company finalized the deal to purchase Strongco on March 18.
Nors is taking over 22 Volvo CE locations, including those in the provinces of Alberta, Ontario, Quebec, New Brunswick, Nova Scotia and Newfoundland and Labrador. With almost 90 years of experience in the industry and operations in 16 countries, including the U.S. and Mexico under its jointly owned company, Ascendum Machinery, Nors has built a reputation as an outstanding dealer that is focused on providing unique solutions to its customers.
We believe that Strongco will benefit from Nors' global presence and brand recognition, and from its long experience in the automotive and construction equipment industry to further enhance its superior performance and future growth. And we are very much looking forward to working with Volvo CE across Canada, said Tomas Jervell, CEO of Nors. We plan on investing heavily in staff expertise, as well as improving parts availability. The goal is to provide the highest uptime in the industry to Volvo CE customers, and we are ready to achieve it.
Nors is the one of the longest-standing partners of Volvo Group. The family-owned company was founded in 1933 by Luis Óscar Jervell, the current CEO's grandfather. It began as a Volvo Group partner in Portugal, selling and servicing trucks and buses, and in 1970 it started selling Volvo Construction Equipment products. The US$2 billion company began its global expansion in the 1990s, entering the African market, then North and South America. Nors operates dealerships under the Nors Group, as well as through joint ownership of the Ascendum Group, which is one of the largest distributors of Volvo CE in the world.
It's fantastic to have such a seasoned partner expanding its successful operations and business model further across North America, and we are looking forward to the improvements they will bring to Canada, said Stephen Roy, senior VP, Volvo CE North America. Together we will enhance our Canadian sales and service efforts to improve the experience of our customers when working with Volvo CE. This new partnership has enormous potential.
The Volvo Group is one of the world's leading manufacturers of trucks, buses, construction equipment, and marine and industrial engines. The Group also provides complete solutions for financing and service. The Volvo Group, with its headquarters in Gothenburg, employs about 95,000 people, has production facilities in 18 countries and sells its products in more than 190 markets. In 2017, the Volvo Group's net sales amounted to about SEK 334.7 billion (EUR 34.1 billion). The Volvo Group is a publicly held company. Volvo shares are listed on Nasdaq Stockholm. For more information, please visit www.volvogroup.com or www.volvogroup.mobi if you are using your mobile phone.
✔️ Nors Group Purchases Strongco and Takes Over its Volvo CE Locations Across Canada
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