The Latvian Competition Council clears a merger in the specialized equipment manufacturing and sales business market (Volvo and Ingersoll-Rand Company)

I. Introduction On 13 June 2007 Latvian Competition Council adopted a decision to permit the acquisition by AB Volvo (Volvo) of Ingersoll-Rand Company Ltd. (IRC) individually divestible business - business of manufacturing and sales of specialized equipment. II. Background Volvo is a company registered in Sweden whose main activities are manufacturing of trucks, busses, construction equipment, ships, drive systems for manufacturing purposes, airplane engines and provision of financial services. Volvo owned 100% of “Volvo Truck Latvia” shares - a limited liability company registered in Latvia, whose registered activities were sale, maintenance and repair of automobiles, sale of automobile parts and accessories, carriage of