In the corporate maze that is the Jurong Industrial District, CITO found its way to Volvo Trucks and Volvo Construction Equipment. CITO representative Viktor Mårdström met with Simon Fransson, Manager of Marketing Strategy and Internal Communication at Volvo Trucks, as well as Anne Bast, Vice President of Corporate Communication at Volvo Construction Equipment.
Volvo Construction Equipment and Volvo Trucks are both subsidiaries of AB Volvo, developing and manufacturing industrial construction equipment and heavy-duty trucks, respectively. Both businesses are major players in their industries with Volvo Trucks being the second largest heavy-duty truck brand in the world. Fransson and Bast guided CITO through the operations of each business, as well as clearing up common misconceptions about how AB Volvo as a whole operates.
Fransson spent a few years in China before coming to Singapore and shared some of his insights about the two countries and business in Asia at large. He also explaind how important Asia has become to Volvo Trucks, as illustrated by the recent formation of the Dongfeng Commercial Vehicles in China together with Dongfeng Motor. Fransson also described the differentiation strategy of price and geographic markets of Volvo Trucks via its set of brands and stated that this was crucial to be able to capitalize on the market dynamics of different countries.
Bast has been staying in Singapore for quite a few years and told of her experiences working in the city-state as an expat, which are generally very positive. Singapore is a major business hub in the region and of utmost importance to Volvo Construction Equipment’s recent focus on growth and expansion in the “BRIC” countries, called “Fit for the Future”. The company manufactures heavy-duty machinery for use in excavation, mining and transportation, all of which are sectors that are currently booming in the emerging markets.
Many thanks to Simon Fransson and Anne Bast for hosting CITO during this very enjoyable visit!