Press releases 2001

AB Volvo hereby invites the mass media to a press conference on July 24 in conjunction with the release of the Volvo Group's report on the first six months 2001.

Volvo reached an agreement today to divest its entire 50% holding in AB Volvofinans. The purchaser is Ford Credit International, Inc at a total price of SEK 871 M. The transaction has only a marginally positive impact on earnings.

The new Volvo A35D and A40D Articulated Haulers have been awarded the highly prestigious German Red Dot Award for highest quality of design.They were designed in close cooperation with Volvo Construction Equipment by Nya Perspektiv Design AB Gothenburg, Sweden, and were selected by the Red Dot Award jury among more than 1,500 products participating in the product design category of the contest.

The new Volvo A35D and A40D Articulated Haulers have been awarded the highly prestigious German Red Dot Award for highest quality of design.They were designed in close cooperation with Volvo Construction Equipment by Nya Perspektiv Design AB Gothenburg, Sweden, and were selected by the Red Dot Award jury among more than 1,500 products participating in the product design category of the contest.

Volvo Aero, Astrium and DLR have decided to co-operate in order to develop thrust chamber technology. The aim of the co-operation is to gain experience and knowledge for the further development of thrust chambers for main-stage engines of space launch vehicles. The parties will run a series of hot-firing tests, preparing for future thrust chambers with considerably higher expansion ratios than today.

Deliveries from Volvo Global Trucks, which comprises Mack Trucks, Inc., Renault V.I. and Volvo Trucks, during the period January-May 2001 amounted to 68 738 units compared to 77 202 in the same period last year, a decrease of 11%. Order intake was down 14%, of which North America was down 30% and Europe 10% compared to the same period last year.

The Japanese company IHI and Volvo Aero, Sweden, have today signed an agreement for LM6000 that is a derivative to the CF6-80 engine.According to the agreement Volvo Aero will deliver components to the LM6000 over the next four years. The order is worth about USD 50M.

The Italian company FiatAvio and Volvo Aero have signed a contract covering the manufacture of LOX turbines for an additional four Vulcain 1 and 19 Vulcain 2 engines. Deliveries will begin during 2001 and are scheduled to be completed in 2003.

American Airlines has reached an agreement with Volvo Aero Services (formerly The AGES Group), which will give Volvo Aero Services the right to sell all surplus spares from American Airlines. According to the agreement, American Airlines will supply Volvo Aero Services with surplus of spares. The two companies will split the sales revenue as agreed.

AGES is changing its name to Volvo Aero Services LP on Sunday, June 17. The change in name will be advertised, and letters will be distributed to customers and business partners.