Press releases 1996

Mitsubishi Heavy Industries is buying two rocket nozzles from Volvo Aero Corporation. The nozzles are intended for the LE-7A, the main engine of the Japanese H-2A launcher.

Volvo Aero Corporation, a subsidiary of Volvo, and MTU München, a subsidiary of Daimler-Benz Aerospace (Dasa, Munich), today signed a Memorandum of Understanding (MoU) on closer mutual cooperation.

AVC Intressenter AB - a holding company jointly owned by Volvo Aero and Atlas Copco - has finalized the previously announced sale of VOAC Hydraulics. The buyer is the US-based company Parker Hanifinn Corporation.

Volvo Aero Engine Services, VAES, in Bromma outside Stockholm has decided to carry out a plan of action to ensure profitability. Despite good order inflow during 1995 the company took a loss. The plan of action includes a cost-level reduction of SEK 75 million which also involves giving notice to 140 employees. VAES sales in 1995 amounted to SEK 620 million and the company has 570 employees.