The world's second-largest truck company, Volvo AB, has agreed to buy Nissan Diesel Motor Co. for $1.1 billion in a bid to gain a greater foothold in the booming Asian market. Asia has been a weak spot for Volvo thus far, comprising just seven percent of its sales in 2006. By buying Japan's fourth largest truck producer, Volvo should be able to establish a far more secure position through Nissan's regional brand name and production capabilities.
Truck manufacturer AB Volvo, which has full control of the Mack Trucks brand in North America and Renault Trucks in Europe, announced it will showcase its environmentally-friendly engines at the IAA commercial vehicle show in Hanover that starts on September 21. The new medium-duty and heavyweight long haul trucks (not pictured) will all meet the Euro V requirements that don't officially kick in until 2009. The trucks will emit 80 percent fewer particulates and 50 percent less nitrogen oxide tha