Volvo agrees to sell French vehicle maker Arquus
Arquus has delivered hundreds of Griffon 6x6 multirole armoured vehicles. (Photo: Arquus)
French vehicle manufacturer Arquus has been purchased by John Cockerill Defense which has a focus on turrets.
Volvo Group has agreed to sell French vehicle manufacturer Arquus to John Cockerill Defense. Consultations with staff should be completed before the end of March and the purchase will then be subject to governmental approvals and other conditions.
Volvo said the group’s operating income would be negatively impacted by approximately SEK900 million (US$86.4 million) in the fourth quarter of 2023.
Arquus manufactures and sells specially designed vehicles to defence forces and employs about 1,200 employees in France. In 2022, Arquus represented approximately 1% of Volvo Group revenues.
Arquus’s range of vehicles for the French defence forces has included Trapper VT4 light all-terrain vehicles,
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