Press releases 1997

Volvo is acquiring Nova BUS, the North American bus manufacturer. The purchase price is slightly more than CAD 50 M. Nova BUS is the largest producer of urban transit buses in Canada and the United States, with a total of 1,360 buses delivered during 1996 and sales turnover of CAD 460 M.

In a move designed to rationalize and coordinate debt and asset management within Volvo Group Finance, the company has decided to concentrate all of its European operations in Göteborg, Sweden.

Up to end November, Volvo Trucks has delivered totally 61,856 trucks, an increase of 7 per cent compared to the same time the year before.

Volvo Aero has signed contracts worth SEK 500 million with the European rocket engine manufactures SEP, Daimler Benz Aerospace and Fiat Avio. The contracts concern development of the Vulcain 2, the next generation of rocket engine for the European launch vehicle Ariane 5.

At a meeting with analysts and investors on December 8, Volvo CEO Leif Johansson presented the Group's goals and action plans for the period through the year 2000.

I syfte att främja en fortsatt positiv utveckling för Volvokoncernen i Ryssland har Volvo idag undertecknat en avsiktsförklaring med det ryska transportministeriet.

Up to end October, Volvo Trucks has delivered totally 55,596 trucks, an increase of 5 per cent compared to the same time the year before.

Anders Hellman has been appointed President of Volvo's new IT company, Volvo Information Technology Center.