The Swedish tractor manufacturer Bolinder-Munktell (BM) was established in 1932 through the merger of two companies: Bolinder, known for its engines, and Munktell, which specialized in tractors. In the 1940s, Volvo began collaborating with Bolinder-Munktell and fully acquired the company in 1950. The Bolinder-Munktell name was used until the 1970s, when it transitioned to the Volvo BM brand. Eventually, Volvo divested its entire tractor division to Valmet.