In early May, Volvo Construction Equipment purchased the assets associated with the Volvo distribution business of L. B. Smith, its largest dealer in the United States.
Volvo CE will continue operation from the existing 31 L. B. Smith locations in Florida, Georgia, Tennessee, Alabama, North and South Carolina, New Jersey, Virginia, eastern Pennsylvania and New York. The new company will be doing business as LB Smith, and Volvo plans to spin off the LB Smith operation in the near future. Volvo says its strategy is to work mainly together with independent dealers.
In other news, Volvo Construction Equipment Rents ("Volvo Rents") opened its 38th outlet, this one in Ireland. Currently, there are 35 Volvo Rents centers in the United States and three in Europe. There are 59 more Volvo Rents outlets under development agreement, as well as negotiations with other parties who are seeking an independently owned and operated franchise opportunity in the equipment industry.
Volvo Rents was established in 2001 by Volvo Construction Equipment to build a worldwide equipment-rental operation through a franchise system.