Portuguese group Nors, previously known as Auto-Sueco, has paid 32 million reals to buy Agronew, a Brazilian distributor of agricultural equipment, the group’s chairman, Tomás Jervell said.
Cited by Portuguese daily financial newspaper Diário Económico, Jervell said that the acquisition was the group’s first step into a new business segment.
The Nors group is present in 15 countries including Brazil and has over 4,300 workers and annual turnover of over 1.1 billion euros.
The group owns the following brands: Auto-Sueco, Ascendum, Auto Maquinaria, Auto Sueco Automóveis, Motortejo, Civiparts, AS Parts, Onedrive, ExpressGlass, Axial, Soma, Biosafe, Sotkon, Amplitude Seguros and MasterTest.
In Brazil the Portuguese group was chosen in 2007 by Volvo to sell and provide after sales services for heavy vehicles for the central-western region of the country including the states of Mato Grosso, Rondónia and Acre. (macauhub)