Press releases 1997

Volvo and Norwegian Orkla ASA have entered an agreement whereby Volvo sells its shareholding in Pripps Ringnes to Orkla. Volvo receives a total of SEK 4.7 billion, resulting in a consolidated capital gain for Volvo of SEK 3.0 billion.

The Volvo Car Corporation experienced a weak start to the year, particularly in Europe. The situation improved towards the end of the year, however, once the change-over to production of the Volvo S40/V40 had been completed. Production of these models reached 71,000 units, exceeding the planned figure of 65,000. 1996 was also characterised by strong sales trends for the 850 model (+ 5 %) and a stronger position in the large car segment in the USA and Japan.

Icy roads can make it very difficult to handle a truck. This also means it can be very risky to practice driving on such roads, and there have hitherto been few opportunities to simulate such training off the public roads.

The creation of a reality which does not actually exist - that is the task of the simulator. Leading-edge technology has to be harnessed in order for the simulator to mirror reality as closely as possible.

"Volvo's core values are quality, safety and environmental consideration. With the company's clear focus on safety and environmental care, the Truck Simulator is a project which is entirely in line with Volvo's interests," says Karl-Erling Trogen, President of Volvo Trucks.

Sören Gyll, Volvo's President and Chief Executive Officer, has informed Volvo's Board of Directors that he wishes to leave his executive position at the Annual General Meeting of the company on April 23. He will be succeeded by Leif Johansson, currently President and Chief Executive Officer of Electrolux.

Volvo Car Corporation and ABB have signed the final agreement to form a joint venture company in assembly line engineering and press automation. The company will manufacture and market automation equipment for automotive body assembly shops and press lines.

Two new features designed to extend Volvo's construction-site range were launched at the Brussels show: the introduction of the Powertronic automatic gearbox on the FL7, and the inclusion of all-wheel-drive in the standard product range.

The Board of Directors of Volvo Aero Corporation has adopted a structural resolution with the objective of moving Volvo Aero's operations in Arboga, Sweden, to the parent company in Trollhättan. The decision to move operations means the closure of Volvo A