irasia.com

Swire Pacific Limited

For immediate release

13th May 1997


Swire enters automobile business in Hong Kong
with Volvo distributorship

Swire Pacific Ltd. today announced that its newly-formed automotive subsidiary, Taikoo Motors Ltd., has signed a Sales and Purchase Agreement with Jebsen & Co. to acquire the distributorship of Volvo automobiles in Hong Kong and South and Central China.

Mr. James Hughes-Hallett, Executive Director of Swire Pacific, said that the company has been a distributor of Volvo cars in Taiwan since 1977 and in Northern and Eastern China since 1993.

"Taiwan has been consistently one of the largest Volvo markets in Asia and this year, our Volvo car sales in China has enjoyed very healthy growth. The addition of Hong Kong and South and Central China will enable Swire to enjoy synergy within its automotive division and to take advantage of the opportunities within the Greater China region.

"Volvo's range of new models to be launched in Hong Kong in the coming months makes this a particularly exciting opportunity. Swire is delighted to be broadening its partnership with Volvo which is already of long-standing and benefits from a particularly good cultural 'fit' between the two companies," Mr. Hughes-Hallett added.

With this acquisition, Swire Pacific will be holding the Volvo car franchise for most of China including Hong Kong and Macau.

Volvo is at present represented by Cimbria Motors (a subsidiary of Jebsen & Co.) in Hong Kong and South China. It is expected that the transfer of the agency will be completed by the end of June 1997. Volvo customers will be individually informed of the change before that date.


  • Press Releases
  • Company's Index
  • irasia.com

  • © Copyright 1996-2024 irasia.com Ltd. All rights reserved.
    DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any information provided on this website. Under no circumstances shall irasia.com Ltd be liable for damages resulting from the use of the information provided on this website.
    TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited.
    TERMS OF USE: Please read the Terms of Use governing the use of our website.