The VME Group was formed. Owned in equal shares by AB Volvo and the Clark Equipment Company of the USA. Volvo BM AB became part of the VME Group.
AB Åkermans Gjuteri & Mekaniska Verkstad became part of the VME Group.
Zettelmeyer Baumaschinen GmbH of Germany became part of the VME Group.
AB Volvo bought out Clark Equipment Company and renamed the company Volvo Construction Equipment.