Press releases 2008

A campaigning project to rescue and revive an endangered and environmentally-sensitive urban park in the Russian city of Nizhny Novgorod has won the 2008 Volvo Adventure and the US$10,000 first prize, the five students of the ‘Green Sail’ team, beating off stiff competition at the World Final in Gothenburg today (Tuesday).

Per Ericsson has been named new manager of Volvo Event Management Golf, succeeding Mel Pyatt, who has retired. Per Ericsson will assume his position on June 1.

Dr Henrik Bergquist MD has been awarded the Assar Gabrielsson Prize for an outstanding scientific dissertation in cancer research at Göteborg University during the past three years.

Volvo Treasury AB (publ) has today published its annual report for 2007.

During the first quarter of 2008, Volvo’s rate of growth was very high and operating income was the Group’s highest to date for a single quarter. With net sales of SEK 77 billion, the underlying growth was 16%, excluding currency effects and acquired companies.

After finalizing the negotiations with employee representatives, Volvo Buses has decided to close the bus body plant in Tampere, Finland. The company will also reorganize operations at the body plant in Turku to increase the competitiveness. In total, 237 employees will be given notice.

The Volvo Group, through Volvo Technology Transfer, jointly with KTH Chalmers Capital, is investing in Gothenburg-based Proxio AB. Proxio has developed the software solution Proxio Optimizer™ that assists buyers of transport services to enhance the efficiency of transport and logistics services, which in turn contributes to lower costs and reduced environmental impact. Proxio’s solution has shown it could reduce a company’s transport costs by at least 15% and fully implemented, Proxio Optimizer could contribute to annual cost savings of more than SEK 100 M for the Volvo Group.

Volvo Buses has received its largest single order so far in Europe. Jointly with the bodybuilder Wrightbus, the company will deliver buses in the coming years in the UK valued at SEK 1.5 billion. Volvo’s share of the order value is about 35-40%.

Volvo Trucks is now introducing Volvo I-Sync – a new automated transmission for the Volvo FL distribution truck. For many customers, this is a longed-for new feature that will make driving safer, more comfortable and more efficient.

Volvo hereby invites the media to a press conference on Friday, April 25 in conjunction with the release of the Volvo Group’s report on the first quarter 2008.