Volvo Construction Equipment
Volvo CE's products include a range of wheel loaders, hydraulic excavators, articulated haulers, motor graders, soil and asphalt compactors, pavers, backhoe loaders, skid steers and milling machines. Volvo CE has production facilities in USA, Brazil, Scotland, Sweden, France, Germany, Poland, India, China, Russia and Korea. Headquarters are located in Brussels, Belgium. The company also offers worldwide service and a range of aftermarket solutions in financing and used equipment. In December 2014, its number of employees is estimated at almost 15, 000.
Three men laid the foundation for Volvo Construction Equipment: Johan Theofron Munktell and the brothers Jean Bolinder and Carl Gerhard Bolinder.
In 1832, Johan Theofron Munktell, then only 27, founds what became Volvo Construction Equipment in Eskilstuna, Sweden. In 1913, Munktell and his team produce Sweden's first tractor. Meanwhile, elsewhere in Sweden, other visionaries and entrepreneurs were making progress: brothers Jean and Carl Gerhard Bolinder of Stockholm had been thriving since 1844 manufacturing steam engines and crude engine oil.
In 1932, exactly one-hundred years after Johan Theofron Munktell’s start in Eskilstuna, Bolinder moves to Eskilstuna and both companies merge under the name AB Bolinder-Munktell, creating a combined experience of 188 years of manufacturing and industrial know-how. In 1934, Bolinder Munktell produces the legendary BM 25 tractor.
In 1950, Volvo buys the machine manufacturer Bolinder-Munktell (BM). Four years later in 1954, the company produces its first wheel loader H10; the world's first to feature a parallel lift arm system and attachment bracket, establishing Volvo as one of the leading construction companies in the world. They built on the success 12 years later with the world's first articulated hauler: the legendary Gravel Charlie - in 1966.
In 1973, the company name changes to Volvo BM AB in order to strengthen the Volvo identity. In 1985, Volvo BM allies itself with the American manufacturer Clark Equipment and its subsidiary Euclid. The product name Clark Michigan was abbreviated to Michigan and the three brand names Volvo BM, Michigan and Euclid were incorporated in the new company VME Group.
In 1995, VME becomes a fully owned Volvo company and changes name to Volvo Construction Equipment.
In 1998, Volvo CE became the first foreign company ever to invest in Korea. The acquisition of Samsung Heavy Industries strengthened its product offerings and presence in Asia.
In January 2007, Volvo purchases 70% of Shandong Lingong Construction Machinery Co. Ltd. In April of the same year, Volvo also finalizes acquisition of the American company Ingersoll Rand's division for road construction machines.