History and Facts

AlCon Automotive opened for business on April 19, 1999 with the intent to service Volvos in the tidewater area. The owner, Randy Bullock had previously worked at Continental Volvo in Virginia Beach, Virginia from 1988 to 1993 and Parkway Volvo aka First Team Auto Superstore in Chesapeake, Virginia from 1993-1999. Volvo corporation bought the franchise from First Team Volvo in January 1999 and absorbed the franchise into its company. The same type of down sizing the numbers of dealers in specific areas went on throughout the country just before Ford Motor Company bought Volvo Cars in early 1999 for $6.45 billion. When the only Volvo Car dealership/repair center in Chesapeake, VA closed, AlCon Automotive was envisioned and opened.

November 2001 The Shopper Article, By: Lori A. Logan

Conscientious, Customized, Honest

Volvos.  Only Volvos.  All Volvos.  When it comes to Volvos, "there is nothing we can't do," states Randy Bullock, owner of AlCon Automotive in Chesapeake.  "No matter what Volvo you drive, we can repair it and service it."

But why Volvos?  Actually it "just kind of happened that way." Randy admits.  "When I moved from New York in 1988 I ended up working in a Volvo dealership."  Having previously worked with Continental Volvo in Virginia Beach and Parkway Volvo (First Team Auto Superstore) in Chesapeake, Randy's successful, Volvo rich-background helped him discover his entrepreneurial roots.

The initial push came when Volvo Corporation bought the franchise from First Team Volvo in January 1999 and absorbed it into the company.  Similar downsizing in specific areas was happening throughout the country before Ford bought Volvo Cars in early 1999.  Shortly thereafter, the only Volvo Car dealership / repair center in Chesapeake closed its doors.  It was then that AlCon Automotive was envisioned, and on April 19, 1999 opened with the mission to service Volvos in the tidewater area.

Interestingly, there's some history here, too, even if it is of an accidental nature.  "My father owned a Volvo dealership in Long Island while I was growing up," Randy reflects, noting the drastic changes in the vehicle's body-type alone over the years.  "A lot of people still think of the Volvo as being boxy and conservative as it used to be.  But today it's a much sportier vehicle, yet with the same quality and longetivity for which it has always been known.&quot

AlCon's service department is equipped with state-of-the-art diagnostic equipment and Randy specializes in providing conscientious, customized, and honest service to his customers.  Standing apart from the competition is important to Randy.

While he is modest in speaking of his accomplishments and success, he admits that he is proudest of AlCon's customer satisfaction and the level of honesty he offers each of his customers.  "We do an excellent job," he states.  "Our team will bend over backwards to serve our customers.  We've built a reputation for being honest.  We focus on customer care, not the dollars we can bring in.  Our customers know this and have come to trust us for it.

Ford Reaches Agreement to Buy Volvo's Passenger Vehicle Business

DEARBORN, Mich., Jan. 28 /PRNewswire/ Ford Motor Company (NYSE: F) has reached an agreement with AB Volvo (Nasdaq: VOLVY) to buy its worldwide passenger vehicle business, Volvo Cars, for a price of 6.45 billion.

"Our 21st century vision is to become the world's leading Consumer Company that provides automotive products and services," said Ford Chairman William Clay Ford, Jr. 'The addition of Volvo is a meaningful step toward achieving this vision.'

"Volvo is a premium automotive brand with unique appeal that represents a good opportunity to profitably extend our lineup and grow the Ford business worldwide," said Jacques Nasser, Ford president and chief executive officer. "Volvo is a perfect complement to the Ford family of brands worldwide.  Volvo has a world-class reputation for safety, quality, durability and environmental responsibility -- all of which are attributes that are increasingly important to our customers, and fit with our 21st century vision for Ford Motor Company.

"The proposed sale of Volvo Cars to Ford will have very important benefits to the parties concerned,' said Leif Johansson, president of AB Volvo and chief executive officer of the Volvo Group.  "Volvo Cars' future prospects will, by being an important part of one of the world's largest and most profitable automotive groups, improve considerably.'

Nasser said that Ford is pleased to be able to expand its technology and research capabilities through this transaction, as well as expand its operations in Sweden.

Ford has been operating in Sweden since 1924, and today we sell passenger and commercial vehicles through a network of 87 dealers there.  We have been serving our Swedish customers for 75 years," Nasser said.  "We are not just in Sweden, we are part of Sweden.  And, through our new relationship with Volvo, we plan to be part of the fabric of the country for many years to come."

Ford will take ownership of all of Volvo Cars' facilities worldwide, including three major assembly plants and two power train plants in Europe and Volvo's passenger vehicle product development center in Gothenburg, Sweden.  Ford will have the right to use the Volvo brand for passenger vehicles including cars, minivans, sport utility vehicles and light trucks on a perpetual basis.  Volvo has the right to use the Volvo brand for commercial vehicles and its non-automotive-related products.

'By adding Volvo as our seventh global automotive brand, we expect to generate increased revenue and profitability while broadening the choices that we at Ford provide our customers, and strengthening our image,' Nasser said.  "Volvo Cars has a strong demographic and regional appeal that fits well with other Ford products.  In addition, Volvo's fine global distribution network will give us added flexibility to grow our other brands."

This transaction is subject to regulatory and Volvo shareholder approval.

'The agreed price represents full and fair value to the Volvo shareholders and excellent long-term value to the Ford shareholders," said Ford.  "We expect increased annual earnings through a combination of expanded product lineup, volume growth, global economies of scale in engineering resources and purchasing, and platform and manufacturing synergies.'

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