Press releases 2001

Volvo Global Trucks has appointed new presidents at its North American operations, Volvo Trucks North America and Mack Trucks Inc.

Volvo Construction Equipment (Volvo CE) today announced it will reduce its current workforce of around 8,500 by approximately 950 white and blue collar employees in the different entities throughout the world.

AB Volvo's business unit Powertrain has signed a Letter of Intent and is negotiating a long-term agreement with International Truck and Engine Corporation, a wholly-owned subsidiary of Navistar International Corporation, regarding the supply of 12 litre engines to International.

Volvo is investing SEK 1.4 billion to develop a new 16-liter engine. This is the first step in the consolidation of Volvo's engine program following the acquisition of Renault VI/Mack. A new engine program accounts for a major share of the long-term synergies in the deal.

Volvo Penta has received an order for an additional 1,700 industrial engines from Saudi Arabia. The order is valued at slightly more than SEK 250 M.

Volvo Trucks has received an order for a total of 500 Volvo FH12 trucks from Iran.

Volvo Penta has concluded an agreement covering delivery of boat engines to the Swedish boat manufacturers Nimbus and Storebro and Norwegian Windy. The three-year contract is valued at a total of about SEK 400 M for Volvo Penta.

Deliveries from Volvo Global Trucks, which comprises Mack Trucks, Inc., Renault V.I. and Volvo Trucks, during the period January-April 2001 amounted to 55,062 units compared to 61,461 in the same period last year. Order intake was down 14%, of which North America was down 30% and Europe 10% compared to the same period last year.

Volvo Penta har slutit ett avtal om leveranser av båtmotorer till de svenska båttillverkarna Nimbus och Storebro samt norska Windy. Avtalet, som löper över drygt tre år, är värt sammanlagt cirka SEK 400 miljoner för Volvo Penta.

Articulated buses, low-entry buses, double deck buses, trolleybuses and intercity buses - Volvo Buses is displaying the full width of its range at UITP. Many of the vehicles on display are based on the company's new TX product platform. Among the new models are the Volvo 8500 Low-Entry and Volvo 8700, both with a rear-mounted engine and an attractive, modern design.