SITE SEARCH:
video overview
ADS

IIr Associates, Inc.
Publisher of The Virginia Engineer

Print-Publishing Services
Web Site Design-Coding-Hosting
Business Consulting

Phone: (804) 779-3527
sales@iirassoc.com
iirassoc.com

NEWS
Firm Announces $400 Million Investment to Expand Assembly Operation
July 8, 2019

The Volvo Group has announced that the firm will invest nearly $400 million to expand its Volvo Trucks North America New River Valley (NRV) assembly operation in Pulaski County. Major components of the investment will include a new 350,000-square-foot building that will ultimately house truck cab welding operations; an expansion of the existing plant to allow for further improvements to the facility’s paint operations and overall material/production flow; and a variety of equipment upgrades, including installation of several state-of-the-art dynamometers for vehicle testing.

Volvo Trucks provides complete transport solutions for customers, offering a full range of medium to heavy duty trucks. Customer support is secured via a global network of 2,100 dealers and workshops in more than 130 countries. Volvo trucks are assembled in 15 countries across the globe. In 2018, more than 127,000 Volvo trucks were delivered worldwide. Volvo Trucks is part of Volvo Group, one of the world’s leading manufacturers of trucks, buses, construction equipment, and marine and industrial engines. The Group also provides solutions for financing and service. Volvo Trucks’ work is based on the core values of quality, safety, and environmental care. The Volvo Trucks facility in Pulaski County is its largest in the world, with 1.6 million square feet on nearly 300 acres and 3,500 employees.

“This investment will give our employees the tools they need to continue providing our customers the highest quality products,” said Franky Marchand, Vice President and General Manager of the NRV plant. “We’re very grateful to the Commonwealth of Virginia, Pulaski County, and the citizens in this community for their continued support of our business and our people. Creating more value-added processes through these investments is good for our employees, our plant, and our region.”

According to a statement released by Governor Ralph S. Northam’s office in response to the announcement, Governor Northam said, “As the leading private employer in the New River Valley, Volvo Trucks has been a bedrock of this community for more than forty years and has fueled the regional economy. The company’s decision to grow its footprint in the Commonwealth not only recognizes the strength of our manufacturing sector, but also reflects the skill of our workers, the quality of life in rural Virginia, and the competitiveness of our business climate. This announcement represents one of the largest capital investments in the history of Southwestern Virginia, and I am confident that this expansion will both prepare the NRV plant for continued success and solidify Volvo’s presence in Pulaski County for decades to come.”

The Virginia Economic Development Partnership worked with Pulaski County, the General Assembly’s Major Employment and Investment (MEI) Project Approval Commission, and Onward New River Valley to secure the expansion for Virginia. The Volvo Group will be eligible to receive post-performance MEI custom grant payments totaling up to $16.5 million over 10 years, based upon achieving its pledged net new job creation and investment commitments. New job creation will be on top of the baseline employment level of 3,219 in place when project negotiations began in 2018. The company is also eligible to receive state benefits from the Virginia Enterprise Zone Program, administered by the Virginia Department of Housing and Community Development.


  ------   News Item Archive  -----  
 
 
The Virginia Engineer on facebook
The Virginia Engineer RSS Feed