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Chinese authorities approved the purchase of Volvo Group’s equity interest in Jinan Huawo Truck Corporation by CNHTC

The Chinese authorities have approved an agreement according to which Sinotruk (BVI) Limited, a wholly owned subsidiary of China National Heavy Duty Truck Group Corporation (CNHTC), and CNHTC will purchase all of the Volvo Group’s equity interest in Jinan Huawo Truck Corporation (Joint Venture). The Volvo Group’s holding amounted to 50% of the equity interest.
The partnership commenced in 2003 and as previously announced the Joint Venture has for various reasons not become the business success that both parties had expected.

The sale has no material impact on the financial result or the financial position of the Volvo Group.

August 19, 2010

Reporters who want more information, please contact:
Mårten Wikforss, AB Volvo, +46 31 66 11 27 or +46 705 59 11 49