Press releases

Four Korean engineers have received the 2011 Volvo Technology Award for their work in refining the hydraulic system used in Volvo Construction Equipment’s excavators. The resultant improvement in system efficiency is yielding fuel savings of up to 15 percent.

The Annual General Meeting of AB Volvo held on April 6, 2011 approved the Board of Directors’ motion that a dividend of SEK 2.50 per share be paid to the company’s shareholders. The record date for dividends was established as April 11, 2011.

Volvo Buses has received an order for 180 buses for public transport in New York City via its subsidiaries Prevost and Nova Bus. The customer wants to test how the buses cope with the demands of the New York City traffic.

In view of the appointment of Olof Persson as the new President and Chief Executive Officer of Volvo to assume his position on September 1, 2011, the Election Committee in AB Volvo has adjusted its proposal as regards Board members as follows.

Volvo Aero is acquiring all Pratt & Whitney’s shares in Volvo Aero Norge and hence becomes sole owner of the company.

Volvo Trucks in North America today announced that in response to increased demand, the company will ramp up production at its New River Valley, VA, plant, and recall approximately 700 employees.

The Sustainability Report describes the Volvo Group’s efforts to develop its operations financially, socially and environmentally, as well as its contribution to society. The report also outlines how the Volvo Group organizes its work, its strategies for the future and key figures for the operations.

As part of the Volvo Group’s focus on hybrid vehicles, Volvo Trucks is now commencing sales of heavy hybrid trucks, under the name Volvo FE Hybrid, to customers in selected European markets. The hybrid trucks permit fuel savings of up to 30 percent and will be used primarily in distribution and refuse operations in an urban environment.

The Volvo Group’s US subsidiary Mack is launching a new medium heavy version of its highly successful Granite model. The launch is being made in connection with the ongoing CONEXPO-CON/AGG trade show in Las Vegas.

A little more than a week after the devastating earthquake and the resulting tsunami in Japan, the Volvo Group has been able to shape a preliminary impression of the consequences for the Group. The fatalities after the catastrophe include two Japanese co-workers, while a third remains missing.