Volvo secures South Korea engine deal

Volvo Penta has announced it has secured an order from South Korea for more than 300 industrial engines.

Volvo expect to meet the order, worth 100 million kronor, this year.

The order for Volvo Penta’s 12- and 16- liter engines was placed by South Korean company Hyundai Heavy Industry Co.

The engines are produced at Volvo’s engine plant in Skövde and today’s order will no doubt be welcomed by the work force, especially as Sweden’s Saab employees at Trollhättan recently lost out to a plant in Germany.

The value of the order represents a significant strengthening of Volvo’s position in Asia.