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Growing Demand Drives Volvo to Begin Assembling I-Shift Transmission in U.S.

Volvo Trucks today announced a $7 million investment to bring assembly of the I-Shift transmission to the Hagerstown, MD, powertrain plant.
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In order to meet growing demand for its innovative I-Shift automated manual transmission, Volvo Trucks today announced a $7 million investment to bring assembly of the transmission to the Hagerstown, MD, powertrain plant, with production scheduled for the third quarter of 2012.

Volvo’s I-Shift transmission was introduced in the North American market in 2007, and last year reached a penetration of 26 percent of Volvo Trucks’ North American sales.  Customers continue to report significant fuel economy improvements from I-Shift, and because it is only available with a Volvo engine, the transmission is helping to promote the company’s integrated powertrain approach.  I-Shift incorporates a host of fuel-saving and productivity-enhancing features into a reliable, durable, and lightweight design.

The transmission is currently assembled in Koping, Sweden, and then sent to Hagerstown for adaptation to North American market requirements.  The Hagerstown investment will include creation of a new assembly line, installation of new equipment and tooling, and employee training.  The new capacity will increase the Volvo Group’s global transmission footprint, and will be the primary source for North America.

I-Shift
I-Shift
$7 million will be invested to bring assembly of the Volvo I-Shift automated manual transmission to the Hagerstown, MD, powertrain plant. Production is scheduled for the third quarter of 2012.

Volvo Trucks North America’s operations and products are guided by the company’s three core values: Quality, Safety and Environmental Care. The Volvo VN and VHD trucks are assembled in the United States at the New River Valley Plant in Dublin, Virginia, while Volvo engines for North America are assembled in Hagerstown, Maryland. Both plants are certified to ISO14001 environmental and ISO9001 quality standards.

Volvo Trucks North America is part of the Volvo Group, one of the world's leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services, and one of the world's leading producers of heavy-diesel engines (9-16 liter). The Group also provides complete solutions for financing and service. The Volvo Group, which employs more than 90,000 people, has production facilities in 19 countries and sells their products in more than 180 markets. Volvo Group sales for 2010 amounted to $36.7 billion. The Volvo Group is a publicly-held company headquartered in Gothenburg, Sweden. Volvo Shares are listed on Nasdaq OMX Nordic Exchange and are traded OTC in the U.S.

June 1, 2011

For further information, please contact Brandon Borgna, Volvo Trucks North America, phone 336-393-2143, email
brandon.borgna@volvo.com

www.volvotrucks.us.com