Isuzu Motors, a Japanese commercial vehicle and diesel engine manufacturing company, agreed to acquire UD Trucks, a Japanese company whose principal business is the manufacturing and sales of diesel trucks, buses, bus chassis and special-purpose vehicles, from Volvo Group, a Swedish multinational manufacturing company, for $2.3bn. "Isuzu Motors and the Volvo Group strongly believe in the business opportunities and synergy potential between the two Groups. We intend to derive the full value from each other's different specialties across product and geographical strongholds. Our collaboration will actively contribute to service improvements and strengthened customer satisfaction as well as to prepare ourselves for the forthcoming logistics revolution," Masanori Katayama, Isuzu Motors President and Representative Director.