Volvo Construction Equipment - Volvo CE - (originally Munktells, Bolinder-Munktell, Volvo BM) is a major international company which develops, manufactures, and markets equipment for construction and related industries. It is a subsidiary and business of the Volvo Group.
Volvo CE sells machines under two brands: Volvo and SDLG.
History
Three men laid the foundation for Volvo Construction Equipment: Johan Theofron Munktell and two brothers Jean Bolinder and Carl Gerhard Bolinder.[2]
In 1832, Johan Theofron Munktell who was then 27, began what became Volvo Construction Equipment in Eskilstuna, Sweden. In 1913, Munktell and his team produced Sweden's first tractor. Elsewhere in Sweden, other entrepreneurs were making progress. Jean and Carl Gerhard Bolinder, who were brothers from Stockholm, had been manufacturing steam engines and crude engine oil since 1844.
In 1932, a century after Johan Theofron Munktell’s began his company in Eskilstuna, Bolinder moved to Eskilstuna and both companies merged under the name AB Bolinder-Munktell. In 1934, Bolinder Munktell produced the legendary BM 25 tractor.
In 1950, Volvo bought the machine manufacturer Bolinder-Munktell (BM). Four years later in 1954, the company produced its first wheel loader H10. It was the world's first loader to feature a parallel lift arm system and attachment bracket, establishing Volvo as one of the leading construction companies in the world. They produced the world's first articulated hauler: the Volvo DR 631 Gravel Charlie-in 1966.
In 1973, the company changed its name to Volvo BM AB. In 1979, Valmet partnered with Volvo and produced tractors under the Volvo BM Valmet brand. Valmet and Massey Ferguson agreed to produce tractors at Massey Ferguson's factory in Beauvais, France. The tractor manufacturing division was sold to Valmet in 1985.[3] Also in 1985, Volvo BM joined the American manufacturer Clark Equipment and its subsidiary Euclid Trucks. The product name Clark Michigan was abbreviated to Michigan and the three brand names Volvo BM, Michigan, and Euclid were incorporated in the new company VME Group.
In 1995, VME became a fully owned Volvo company and changed its name to Volvo Construction Equipment. In 1998, Volvo CE became the first foreign company to invest in Korea. The acquisition of Samsung Heavy Industries (Construction Equipment Division) increased its sales and presence in Asia.
In January 2007, Volvo purchased 70% of SDLG. In April of the same year, Volvo also finalized the acquisition of a division of the American company Ingersoll Rand. The division manufactures machines for road construction. In July 2020, Volvo Construction sold Blaw-Knox pavers to Gencor Industries Inc. which is in Orlando.[4]
In December 2013, VCE agreed to pay US$160m for the heavy haul truck line of U.S. manufacturer Terex, [5] Including Terex Equipment Ltd (TEL) of Scotland.[6]
In December 2020, Volvo began delivering all-electric ECR25 Electric compact excavators to customers.[7]
In September 2021 VCE dropped the Terex name and rebranded the business Rokbak.[8]
Products
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A heavily modified Volvo is used during the launch of large balloon payloads at Esrange in northern Sweden
A Terex 6300AC "Heavy Hauler", one of the biggest dump trucks in the world. c. 2000[9] Volvo began to acquire the brand in 2013, and dropped the name in 2021
50.731 billion kr (2016)[1]
2.246 billion kr (2016)[1]
![A Terex 6300AC "Heavy Hauler", one of the biggest dump trucks in the world. c. 2000[9] Volvo began to acquire the brand in 2013, and dropped the name in 2021](/en/File:Terex_6300AC.jpg)
