1965 - AB Volvo Penta
In 1965, the company changed its name to AB Volvo Penta. Subsidiaries were set up in England, Germany and Italy; inroads were made in South America, and the Dutch company Dieseltechniek was purchased. In Göteborg the growing staff at Penta found that they were running out of space - there were almost 500 of them at the end of the decade - and they moved to the Z-area of Volvo in Göteborg.
Important products during the 1960s included power sets and compressor units and the deliveries of industrial engines rose the whole time to total more than 3,000 a year towards the end of the decade. The sale of GP engines, the heavy six-cylinder diesel engines, was very buoyant especially to the inshore fisheries and other commercial boats, and other new products included the MD 19 and MD 27.