Volvo to outsource axles to ArvinMeritor

Newswire

STOCKHOLM, Oct 27 (Reuters) - The world's second biggest truck maker, Sweden's Volvo , said on Monday it planned to outsource axle production to ArvinMeritor , a supplier of motor vehicle industry modules and components. "A memorandum of understanding has been signed between the two companies. Final agreements are planned to be made during first quarter 2004," Volvo said in a statement but did not give a value for the accord. The deal involves the transfer of 943 jobs from three Volvo ...

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