Press releases 1998

Stefan Johnsson has been appointed a new member of the Volvo Group Executive Committee, responsible for strategic matters and business development. He assumes his new position on October 15, 1998.

Volvo Technology Transfer AB förvärvar 67 procent av aktiekapitalet i det Lysekilsbaserade teknikföretaget 3-CD AB.

Till ny chef för Volvo Komponenter AB, Division Karosskomponenter, har utsetts Anders Granberg. Han kommer närmast från en befattning som Produktionsdirektör vid ABB Stal i Finspång.

Volvo Construction Equipment has entered into an agreement with Hitachi Construction Machinery Co. Ltd to reduce its ownership in its joint venture company, Euclid Hitachi Heavy Equipment Inc., from the present 60 percent to 20 percent of issued stock. This brings Hitachi?s share in the company to 80 percent. In addition, Hitachi will purchase the remaining 20 percent stake in EHHE on October 1, 2001, making the company a wholly-owned Hitachi subsidiary.

Volvo Aero and ABB have jointly formed a new company, which will develop, market and produce small gas-turbine-driven generator units. Mass production of the new products is planned to start at the end of 1999.

Acquires bus manufacturer Mexicana de AutobusesPlans to start local assembly of passenger carsEstablishes Group-wide procurement unitConducts feasibility study of cab manufacturing for construction equipmentEstablishes a finance company

Mr. Lars Rohwer has been appointed Managing Director for Volvo Excavators AB in Eslöv. Mr. Rohwer was most recently Managing Director and CEO of Intrum Justitia Group, in the Netherlands.

Volvo Truck deliveries in January-August recorded a total of 52.960 units, an increase of 28 per cent compared with the same period last year. Sales showed the following distribution:

Volvo Aero har fått beställningar på sammanlagt över 1 miljard kronor. GE Capital Aviation Services beställde under flygmässan i Farnborough i förra veckan 12 Boeing 767 med 27 CF6-80- motorer, i vilka Volvo Aero är risk- och vinstdelande partner.

Presentation material from seminar on Volvo's commercial business areas