Volvo Penta and Outboard Marine to Form Joint Venture; New Company to Produce Sterndrives and Inboard Gasoline Marine Engines

AB Volvo Penta of Gothenburg, Sweden and Outboard Marine Corporation of Waukegan, Ill., today signed a letter of intent to form a new company to produce sterndrive and inboard gasoline marine power systems. The new company, which will be owned 60 percent by Volvo Penta North America, Inc. (VPNA) and...

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Bibliographic Details
Published inPR Newswire p. 1
Main Author Moody, Dave
Format Newsletter
LanguageEnglish
Published New York PR Newswire Association LLC 01.06.1992
Subjects
Customer services
Engines
Joint ventures
Machinery industry
Manufacturers
Middle Atlantic
Product lines
Service introduction
New York
United States > US
NY
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Summary:AB Volvo Penta of Gothenburg, Sweden and Outboard Marine Corporation of Waukegan, Ill., today signed a letter of intent to form a new company to produce sterndrive and inboard gasoline marine power systems. The new company, which will be owned 60 percent by Volvo Penta North America, Inc. (VPNA) and 40 percent by Outboard Marine (OMC), will develop and manufacture a new generation of advanced marine propulsion systems, and provide parts and aftermarket service for these and existing products. The jointly-produced products will be used in boats manufactured by OMC companies and will be marketed by Volvo Penta to independent boat manufacturers worldwide under its brand name. (excerpt)