Volvo Construction Equipment (Volvo CE) and McClung-Logan Virginia LLC, a subsidiary of McClung-Logan Equipment Company Inc., Baltimore, MD, have signed an agreement to sell Volvo CE’s LB Smith dealership operations in Virginia to McClung-Logan Virginia.
The agreement between Volvo CE and McClung-Logan Virginia was signed on Dec. 6, 2004. Closing will take place on Dec. 31, 2004.
Volvo CE purchased the assets associated with the Volvo construction equipment business of LB Smith Inc., its distributor for a majority of the East Coast of the United States in May 2003. Since that acquisition, Volvo CE has continued the operations of the former dealer at all existing locations under the name LB Smith while negotiating the sale and divestment of its territories.
Under the terms of the agreement between Volvo CE and McClung-Logan Virginia, the latter will serve its new market area from current Virginia LB Smith branch facilities in Glen Allen (Richmond), Salem (Roanoke), Chesapeake, and Wise. Complete information on the operations of the new dealership will be available upon the completion of the transaction in late December.
McClung-Logan Equipment Company has been a dealer for Volvo construction equipment since 1983 and serves a construction equipment customer base in Maryland, Delaware and northern Virginia. McClung-Logan Equipment Company and Power Equipment Company, Denver, CO, are wholly owned subsidiaries of M-L Holdings Inc.
For more information, call 828/650-2043.