Press releases 2000

Volvo Trucks has received ISO 9001 certification for its entire operations. This confirms that the company's global quality management system meets the requirements of the international standard.

Volvo Aero and GE Aircraft Engines (GEAE) have entered into a new, major military cooperation agreement. The cooperation involves the F414 engine for the F-18E/F (Super Hornet) aircraft series, which is the U.S. Navy's new volume program for their aircraft carrier fleet. Volvo Aero's involvement corresponds to program revenues of about SEK 3 billion (USD 350 M.)"This is a big breakthrough for Volvo Aero. This is the company's first Military Engine Programme that is not strictly connected to the Swedish Airforce," says Fred Bodin, president of Volvo Aero.

Aerospace components and services are becoming increasingly important areas of operations within Volvo Aero. Consequently, an Aerospace Components Business Area is being formed comprising of Commercial Engines, Volvo Aero Norway and Space Propulsion. Erling Vister, currently head of Commercial Engines, is being appointed Senior Vice President and manager of the Aerospace Components Business Area. Concurrently, Lars Sundberg, until now manager of the Military Engines Business Area, is being appointed Senior Vice President and manager of the Engine Services Business Area, which includes the overhaul operations in Trollhättan and the operations at Volvo Aero Engine Services in Stockholm. Stefan Kylhammar, now serving as coordinator of the operations within Commercial Engines, has been named m

Volvo's Board today decided to establish a new incentive program for senior executives in the Volvo Group. The program involves so-called personnel options. The aim is to create a competitive, long-term compensation program that provides a strong link to the trend of the Volvo share price.

Volvo Penta has now inaugurated its new assembly plant in China for diesel engines and gen-sets. The plant, a joint venture with Volvo Penta's China partner Wuxi Diesel Engine Works, has an annual production capacity of 5,000 engines.

Tough, reliable compact excavators now carry the Volvo name worldwide.