The sale is set to be completed in H1 2024. Credit: Volvo CE.

Volvo Construction Equipment (Volvo CE) has reached an agreement to sell its ABG Paver Business to Switzerland-based Ammann Group.

The agreement also includes the sale of ABG Paver’s production and technology centre in Hameln, Germany.

Ammann supplies machines, mixing plants, and services to the construction industry and specialises in road building and transportation infrastructure.

The investment in ABG Pavers and future expansion plans will support Ammann’s strategy to grow its business and strengthen its product portfolio and distribution network.

It will also enable Volvo CE to better focus on developing sustainable solutions and future technologies in line with its strategic direction.

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Meanwhile, customers will continue to have access to the ABG Paving range, aftermarket, and other services through the Ammann dealer network and some Volvo CE dealers.

Volvo CE stated that approximately 400 employees will be affected by this announcement.

The completion of the transaction is dependent on obtaining regulatory approvals and consulting with work councils.

It is expected to be finalised in the first half (H1) of 2024.

This development follows Volvo CE’s partnership with CRH in Dublin, Republic of Ireland, to drive the decarbonisation of the construction industry last month, with the two companies signing a memorandum of understanding to mark the partnership.