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Volvo says to move grader business, cost $45 mln

Tue Sep 30, 2008 9:12am EDT

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STOCKHOLM, Sept 30 (Reuters) - Volvo (VOLVb.ST) said on Tuesday it would move the majority of its motor grader business as a part of a consolidation plan for its North American operation.

Volvo, the world's number two truck maker, said in a statement its construction equipment division Volvo CE would move activities in Goderich, Ontario in Canada to the firm's plant in Shippensburg, Pennsylvania in the United States.

It estimated the restructuring cost would amount to around $45 million, to be booked in the third quarter.



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