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Article: Ford swallows Volvo.(Ford Motor Co. buys Volvo)(Brief Article)
- Article from:
- The Economist (US)
- Article date:
- January 30, 1999
CopyrightCOPYRIGHT 1999 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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THE merger of Daimler-Benz and Chrysler in May last year set people talking about takeovers throughout the car industry. The first result was announced on January 28th, when Ford said it was buying the car division of Volvo for SKr50 billion ($6.45 billion). The deal will force competitors to redouble their efforts to find a match.
Ford's product range fits well with Volvo's in both Europe and North America. Jac Nasser, Ford's chief executive, says ``Volvo has world- class reputation for safety, quality, durability and environmental responsibility''. He might also have said that Volvo cars are no longer cubic fridges on wheels, but cool design statements which ...