When it comes to buying or renting heavy equipment, Volvo CE is absolutely among the brands that every construction firm considers. Founded in 1832, this Swedish company is among the world’s largest manufacturers of construction equipment; it is also the oldest industrial company that is still active to this day. Here are some interesting facts about Volvo CE for you to get to know more about this company:
Volvo CE as Volvo Group’s Subsidiary
Volvo CE is actually one of the many subsidiaries of Volvo Group—a Swedish multinational manufacturing company involved in producing trucks, buses, and construction equipment. Apart from Volvo CE, other subsidiaries of Volvo Group include Mack Trucks, Volvo Penta, Volvo Trucks, Volvo Information Technology, and Volvo Buses.
Volvo CE’s Origin
In 1932, a tractor and machines manufacturer was established in Eskilstuna, Sweden and named AB Bolinder-Munktell (BM). The company was founded through the merger of Bolinder and Munktell—two mechanical companies in Sweden. Prior to the merger, Munktell was credited as the manufacturer of Sweden’s first ever tractor. Bolinder, on the other hand, was a marine engine builder that held 80% of the world’s engine market in the 1920s. Munktell (founded by Johan Theofron Munktell) has been manufacturing steam engines since 1832 in Eskilstuna while Bolinder (founded by brothers Carl Gerhard and Jean Bolinder) has been in the manufacturing industry since 1844 in Stockholm. The merger of the two companies resulted in the combined experience of 188 years.
Volvo Group and Bolinder-Munktell
Two years after the merger of Bolinder-Munktell, the company manufactured its BM 25 tractor, which became one of the well-recognized tractors in the 1930s. A few years later, in 1950, Volvo bought Bolinder-Munktell. In 1973, the name of the company was changed to Volvo BM AB in order to strengthen the name and identity of Volvo. In 1995, the name was changed again to Volvo Construction Equipment.
Volvo CE’s products
Four years after Bolinder-Munktell was bought by Volvo Group, the company produced its first ever wheel loader H10—the first in the world to have a parallel lift arm system and an attachment bracket. Because of this invention, the company was able to establish their name as one of the world’s leading construction equipment manufacturer. Twelve years later, Volvo built the first articulated hauler, which was given the name Gravel Charlie. Currently, Volvo CE is the world’s largest manufacturer of wheel loaders and articulated haulers.
Other Interesting Facts about Volvo CE
Volvo CE is the first foreign company to invest in South Korea in 1998. The company’s acquisition of Samsung Heavy Industries has increased and reinforced its presence in Asian countries; it also improved the company’s product offerings. In 2012, Volvo CE became the first construction equipment company in the world to participate in the Climate Savers Program of the World Wide Fund for Nature. The company has committed to be part of the organization’s carbon-reduction agenda. Volvo CE sells its products under three brands—Terex, Volvo, and SDLG.