Press release

Material Handling Equipment Sale Finalized

2008-05-06

Winston Leonard

Material Handling Equipment Sale Finalized The sale by Volvo Construction Equipment of the Material Handling Equipment segment of its road machinery business to Skyjack, a division of Linamar, based in Ontario, Canada, was finalized Friday, April 25, 2008.

The purchased assets will be moved to a Skyjack facility in Guelph, Ontario, Canada and the service inventory in Ohio will be relocated to a Skyjack distribution center in the Chicago area. The move will be managed by a joint team of Volvo and Skyjack employees. These activities are expected to be completed by the end of June 2008. Production start-up in Canada will be supported by appropriate Volvo staff members.