According to the agreement, Bank of China will provide Volvo China and its branch and subsidiary companies with credit support including services such as short and long-term loans, guarantees, letters of credit, and other credit services. In addition, Bank of China will offer comprehensive financial services including cash management, settlement of foreign currencies, accounts receivable and other financial services.
The second part of the agreement concerns the creation of effective and competitive financing solutions for AB Volvo’s dealers and customers. For example, customers may finance their purchase of products sold by the Volvo Group, namely Volvo Construction Equipment, Volvo Buses, and trucks branded with the Volvo, Renault and Mack trademarks.
March 19, 2004
For further information, please contact, David Freilich,
Volvo Financial Services, +1 201 8027706