Volvo Construction Equipment (Volvo CE) has agreed to sell its 70% stake in Shandong Lingong Construction Machinery Co (SDLG) to a fund predominantly owned by Lingong Group (LGG) for Skr8bn ($826m).

SDLG's facility in Linyi, China produces 45 wheel loaders a day. Shandong Lingong Construction Machinery Co., Ltd., (Lingong) will introduce its SDLG branded equipment to customers to North America.