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Rumors of Swedish truck merger

Published Thursday, May 01, 1997

The recent naming of Leif Johansson as the new chief of AB Volvo has fueled rumors that Volvo's heavy-truck division and fellow Swedish competitor Scania AB will merge. According to Ward's Automotive International, Johansson's career has centered on working for firms controlled by Sweden's mighty Wallenberg clan. In fact, Johansson left Wallenberg appliance maker Electrolux AB to take the helm at Volvo. Despite that break, it is speculated he will not burn his bridges to the baronial family. The plot thickens. Wallenberg's investment arm holds majority ownership of Scania, and Johansson served on Scania's board only a year ...

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