Industry News

Volvo, MaxiPARTS Make New Acquisitions, And More From The Road

A pair of new company acquisitions, updates and new programs from road unions and federations and a renewable materials deal headline this week’s industry news.

Volvo acquires Proterra

Major vehicle manufacturer Volvo has made a major move in the electric space, acquiring battery manufacturer Proterra Inc. for $210 million USD after the company recently filed for voluntary bankruptcy.

Expected to fully close in early 2024, the deal will see Volvo takeover all of the company’s assets, including a development centre for battery modules and packs in California and an assembly factory in South Carolina.

Given Volvo’s eagerness to expand its presence in the heavy electric vehicle space, particularly in Australia, this could be a major step for the company with a pathway for its own battery production.

Scania accelerates sustainable steel pathway

Truck manufacturer Scania has signed a letter of intent with materials provider SSAB to begin the process of decarbonising all steel used for the construction of the company’s vehicles from 2030.

Set to get underway in 2026, the deal will see SSAB’s fossil-free steel used in all Scania vehicles, with the goal in mind to target its zero-emissions goals in line with industry standards.

“I’m glad and proud that we have reached this agreement. Scania’s purpose is to drive the shift towards a sustainable transport system,” says Scania CEO Christian Levin.

“To fulfil that purpose, we are acting across the value chain together with partners such as SSAB, who are at the forefront of the transition to a sustainable steel industry.”

Scania and SSAB are both part of the First Movers Coalition, a group of companies who have adopted sustainable practices ahead of time in their industries.

MaxiPARTS takes over Independant Parts

Truck and trailer parts company MaxiPARTS is expanding its stronghold in Western Australia, acquiring 100 per cent of Nineteen Group and its subsidiary Independant Parts (IP) for $27 million AUD.

In addition to this, MaxiPARTS subsidiary Förch Australia will acquire Förch Brisbane for $1.9 million, after it acquired the parent company in May of this year.

“The acquisition of IP is an exciting step forward in the expansion of MaxiPARTS and is fully aligned with our stated acquisition criteria,” says MaxiPARTS managing director and CEO Peter Loimaranta.

This will give MaxiPARTS three additional stores post-consolidation and establishes strong partnerships with key national logistics and mining customers in critical mining regions.

Western Roads Federation launches domestic violence workshop

The Western Roads Federation is fighting to tackle domestic violence in WA, launching a new workshop to help boost industry awareness and to show its support for the cause.

Uniting with the Domestic Abuse Resource and Training Group, the initiative is being run in support of the state government’s ’16 Days in WA’ anti-domestic violence campaign, which starts on November 25, the International Day for the Elimination of Violence Against Women.

“How many more headlines do we need to read about people who have been killed by their partner? We commend the WA Government for taking such a strong stance against domestic violence and we are proud to do the same,” WRF CEO Cam Dumesny says.

The workshop will be held on December 5, 2023.

NatRoad calls for patience amidst DP World attacks

Major logistics provider DP World is resuming regular freight services after a series of cyber attacks crippled the business’ operations this week.

While Monday’s slots for freight and port operators shipping cargo had been cancelled, shipments are slowly getting back underway.

“It’s frustrating but there’s nothing operators can do until the company restores its systems,” says NatRoad CEO Warren Clark.

“There will obviously be some prioritisation for critical freight such as medical supplies but everybody is in limbo right now.”


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Volvo, MaxiPARTS Make New Acquisitions, And More From The Road appeared first on Power Torque.

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