×

Volvo Group entered into an agreement with China National Heavy Duty Truck Group Co, Ltd to sell its equity interest in Jinan Huawo Truck Corporation

The Volvo Group, Sinotruk (BVI) Limited and China National Heavy Duty Truck Group Corporation (CNHTC) have signed an agreement whereby Sinotruk (BVI) Limited, a wholly owned subsidiary of China National Heavy Duty Truck Group Corporation, and CNHTC agrees to purchase all of Volvo Group’s equity interest in Jinan Huawo Truck Corporation (Joint Venture), in which Volvo Group currently holds a 50-percent equity interest. The agreement is subject to approval by the P.R.C. authorities.
The partnership commenced in 2003, the Joint Venture has for various reasons not become the business success that both parties had expected.

The newly signed agreement describes detailed arrangements of the withdrawal of Volvo Group from the Joint Venture.

November 16, 2009

Reporters who want more information, please contact
Mårten Wikforss, AB Volvo, +46 31 66 11 27 or +46 705 59 11 49
Investor Relations:
Christer Johansson, AB Volvo, tel +46 31 66 13 34
Patrik Stenberg, AB Volvo, tel +46 31 66 13 36
Anders Christensson, AB Volvo, tel +46 31 66 11 91