AUTOMOTIVE
Volvo takes over UD truck operations in Thailand
- Published: 17/12/2011 at 05:31 AM
- Newspaper section: Business
AB Volvo of Sweden has officially taken over the UD truck business in Thailand, ending a two-year legal dispute with Hong Kong-listed Tan Chong International.
Tan Chong, licensed by Nissan Diesel Motor (NDM) of Japan to assemble and distribute UD trucks in Thailand in 2002, charged the Swedish truck maker with breaching various terms of distribution and technical assistance agreements dated Dec 27, 2002.
It was seeking compensation of HK$2.64 billion (10.6 billion baht) for damages early last year.
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About the author
- Writer: Santan Santivimolnat
- Position: Reporter
