Word: beijerinvest
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Dates: during 1980-1989
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...from-the-wheels-up model like the 760 would have meant a major financial commitment by Volvo. But following an ambitious diversification program that was begun six years ago, automobiles now account for only 35% of sales. The crown jewel was last year's acquisition of Beijerinvest, a large energy trading company, for $305 million. With the acquisition came 31 oil-drilling sites in the North Sea. In August, Volvo expanded its oil holdings by buying 50% of Hamilton Brothers Petroleum Corp., a private U.S. firm that also explores for offshore crude. Despite weakening oil prices, Volvo...
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