Volvo says construction equipment market recovering

Volvo Construction Equipment President and CEO Pat Olney used a May 17 press conference in Miami to share his belief that the recovery in the North American construction equipment market is gathering momentum. His comments, made to a group of U.S. business journalists attending a sustainability event, came shortly after the company posted a 111-percent uptick in North American revenues in the first quarter this year.

“Demand for construction equipment in North America jumped 35 percent during the first three months of the year,” Olney says. “This shows us that the recovery that began last year is gathering pace, and that our earlier forecast of a 15 to 25 percent year-on-year improvement for 2012 is attainable.”

Olney also used the press conference to emphasize the company’s commitment to the environment and sustainability. He highlighted Volvo CE’s Stage IIIB/Tier 4i emissions-compliant engine systems and the 60-plus fuel-efficient products that are being introduced this year as examples of the company’s commitment to sustainability.