Isuzu Motors has wrapped up the acquisition of UD Trucks from the Volvo Group, as part of the completion of a strategic alliance between the Volvo Group and Isuzu Motors.
Naoto Hakamata has been appointed chairperson of UD Trucks and Tetsuya Aiba as the CFO, effective April 1.
Volvo Group executive VP Joachim Rosenberg also then resigned as chairperson of UD Trucks on March 31.
UD Trucks says in a statement that it is well positioned to build a “long-term and robust relationship” with Volvo Group and Isuzu Motors within the framework of the strategic alliance, creating synergies over the long term.
“Together with Isuzu Motors, opportunities for UD Trucks include leveraging each other's strengths and economies of scale, especially in the area of heavy-duty trucks in Japan and across international markets; exploring cooperation in the areas of purchasing and logistics; leveraging common technology, as well as geographical footprint complementarity; and creating a strong base to continue to invest in technical development and innovations for world-class products and services.”
UD Trucks says it has built up a wealth of experience and expertise in the heavy-duty truck segment over the 14 years it spent with the Volvo Group.
UD Trucks is active in more than 60 countries, South Africa included.
There is no news yet on how the global acquisition will affect local operations.