Washington, DC - At the Renewable Energy Technology Conference & Exhibition (RETECH 2010) the Volvo Group today announced its first academic partnership in North America. Penn State was chosen as part of Volvo’s Academic Partner Program, which was launched globally in 2009 for research cooperation with selected universities.
In the fourth quarter, the Volvo Group continued to have substantial costs in connection with its effort to adjust the cost structure to a considerably lower level of demand in the wake of the financial crisis, something that contributed to an operating loss of slightly more than SEK 2 billion in the quarter. The main focus during the quarter was on cash flow and the Group created a positive cash flow of SEK 8.6 billion, which is one of the best cash inflows ever for a single quarter.
Volvo Buses has secured an order for 323 coaches in Mexico. Most of these will be delivered in 2010.
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