Press releases 2008

The Reinhardt Group, one of South Africa’s biggest Volvo truck operators, has placed an order for 287 Volvo FM 400hp truck tractors to go into operation in the company’s bulk material transportation business. The order doubles Reinhardt Transport’s fleet size. Deliveries have commenced and will be completed in 2008.

At the Annual General Meeting of AB Volvo held on April 9, 2008, the Board’s proposal was approved to pay an ordinary dividend to the shareholders of SEK 5.50 per share. April 14, 2008 was adopted as the record date for entitlement to receive dividends. Payment of the dividend will be made through VPC (Swedish Central Securities Depository and Clearing Organization) on April 17, 2008.

Volvo Construction Equipment introduced the world’s first articulated haulers in 1966. Another major technological step has now been taken through the introduction of a comfortable hydraulic suspension feature that sharply increases the productivity of these machines. The development work was conducted within Volvo CE and the result has been awarded the 2008 Volvo Technology Award.

Volvo Trucks North America recently announced its 2007 U.S. and Canadian dealers of the year, and recognized other dealers for their performance in truck and Volvo engine sales.

Steeply rising oil prices and a strong focus on the climate have made fuel-saving hybrid technology particularly interesting. Volvo Trucks is now taking an important step towards commercialisation of this technology for heavy vehicles by launching two hybrid refuse trucks that will be tested in regular daily operations in Sweden by refuse collection firms Renova and Ragn-Sells.

The Swedish Energy Agency has granted AB Volvo SEK 12.8 M in support for field testing of the third-generation DME technology for heavy vehicles. The field tests with the 14 trucks is part of a project comprising demonstration of the entire technology chain, from biomass to fuel in the trucks and also includes distribution and tanking stations for DME. The first trucks are scheduled to be placed in traffic at the end of 2009.

The GEnx aircraft engine, in which Volvo Aero plays a major role, has received airworthiness certification from the U.S. Federal Aviation Administration (FAA).

Odd Tore Kurverud has been appointed the new President of Volvo Aero Norway in Kongsberg. He succeeds Reidar Lyse, who has been President since 2003 and is now leaving his position for health reasons.

In preparation of the Annual General Meeting of AB Volvo on 9 April 2008, Volvo’s Election Committee has received confirmation of candidacy from Ravi Venkatesan, who accordingly is proposed by the Election Committee to become a new member of the Board of Directors in addition to the proposal already disclosed by the Election Committee.

Volvo Buses has received an order for an additional 240 city buses to Bangalore, India. The 70 Volvo buses already in traffic in the city have enticed many inhabitants to park their cars and take the bus instead.