In November 2023, Ferronordic acquired Rudd Equipment Company, Inc. (“Rudd”), one of the largest dealers for Volvo CE in the United States. Following the transaction, we are now an official dealer of Volvo CE in Kentucky, Ohio, Western Pennsylvania, Eastern Missouri, Southern Illinois, most of Indiana and West Virginia, as well as several counties in Tennessee and Maryland. We also represent Hitachi, Sandvik and Link-belt in parts of the same area. The US is the world’s second largest market for construction equipment with substantive infrastructure investment programs that are likely to support strong demand going forward. Rudd has historically had a strong focus on excavation and extractive industries, particularly in Kentucky and West Virginia. In the last years, the company has focused more on the general construction segment. In 2022, the market for Volvo CE products (GPE) in Rudd’s sales area amounted to approx. 4,000 machines. Ferronordic sees potential to increase the company’s market share in this segment further, especially in certain larger cities such as St. Louis, Pittsburgh and Cleveland.
Our markets
Ferronordic is an official dealer of Volvo Trucks and Renault Trucks in Germany. Ferronordic is the dealer for Volvo CE in all or parts of nine states in the United States and also represents Hitachi, Sandvik and Linkbelt in parts of the same area. Ferronordic is also dealer of Volvo CE, Mecalac and Sandvik mobile crushers and screens in Kazakhstan. We have 41 workshops and points of presence and about 800 employees that provide around-the-clock service and repairs for our customers in these markets.
Germany
Germany is Europe’s largest market market for heavy duty trucks. Our activities in Germany include sales of new Volvo and Renault Trucks, sales of used trucks, rental of trucks, as well as service and technical support of trucks and other commercial vehicles. Our sales area in Germany represents approx. 20% of the entire German truck market (based on registrations). Our strategy is to continue to grow and improve our network and organisation to increase the market share of Volvo and Renault Trucks and increase our share of the total aftermarket business in our sales area.
Kazakhstan
Ferronordic became an authorised dealer of Volvo Construction Equipment and Mecalac in Kazakhstan in 2019. As of September 2022, Ferronordic is also responsible for service, sales and repairs of Sandvik mobile crushers and screens throughout the country. The Kazakh machine market is shaped by an economy based on oil and other natural resources. There is an increasing need to expand and upgrade the country’s infrastructure. Except for rigid haulers, the Kazakh market for high-quality machines is still relatively small and therefore, in our view, has great growth potential thanks to continued infrastructure investments, economic development and increasingly sophisticated customer needs.
