RENAULT (France) has concluded a strategic agreement with the Swedish manufacturer VOLVO in the heavy goods vehicle sector. Under the agreement, RENAULT will swap its industrial vehicle subsidiary RENAULT VI and its American subsidiary MACK, worth an estimated EUR 1.7 billion, for 15% of VOLVO. It plans to buy another 5% on the market, becoming reference shareholder in the Swedish group. The plan will create the world's second biggest heavy goods vehicle maker, behind DAIMLERCHRYSLER, with...