Volvo apprehends ten to 15 per cent slump in growth

Kolkata, Nov 6(UNI) Construction equipment manufacturer Volvo Construction Equipment India apprehended ten to 15 per cent slump in its growth this fiscal because of the global economic recession.

Managing Director Mrityunjaya Singh today said the company had been growing at a rate of 30 per cent for the past few years.

'' However, it could go down to ten to 15 per cent this year as our country has also been affected by the global economic slowdown, '' he said.

Volvo CE India, a part of the Sweden-based Volvo Group, claimed the sixth position in terms of market share in the country in construction equipment manufacturing business.

The company has its plant in Bangalore for manufacturing equipments.

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