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VOLVY.PK on OTC Markets Group

7 Jan 2016
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$0.01 (+0.17%)
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Latest Key Developments (Source: Significant Developments)

Volvo says to make additional EUR 20 mln provision for EU anti-trust settlement
Tuesday, 19 Jul 2016 08:00am EDT 

AB Volvo :Says additional provision due to EU settlement will have a negative impact of EUR 20 mln (SEK 0.2 bln) on operating income in Q3 of 2016.  Full Article

Volvo Q2 core profit tops forecast, cuts N. America outlook
Tuesday, 19 Jul 2016 01:20am EDT 

AB Volvo : Q2 adjusted operating income amounted to SEK 6,130 mln vs year-ago 5,979 mln, corresponding to an operating margin of 7.8 pct vs year-ago 7.1 pct . Reuters poll: Volvo Q2 adjusted operating income seen at SEK 5.64 bln . Says Volvo CE continues to gain market shares in the heavy segment, particularly in Europe . Q2 sales decreased by 7 pct to SEK 78.9 billion . Repeats sees FY2016 European truck market of 290,000 units . Sees FY2016 North American truck market of 240,000 units vs pvs forecast 250,000 units . Repeats forecast for FY2016 brazilian truck market of 30,000 units . Q2 trucks order intake 45,422 units vs mean forecast 49,034 units in Reuters poll .Repeats FY2016 china construction equipment market seen contracting 5-15 pct.  Full Article

Truckmakers face fines from EU for price fixing - Bloomberg
Tuesday, 5 Jul 2016 12:45pm EDT 

:Truckmakers including Volvo AB and Iveco face fines from the European Union for charges of price fixing - Bloomberg, citing sources.  Full Article

Volvo CEO sees short-term Brexit effect, but no big lasting impact
Monday, 27 Jun 2016 10:24am EDT 

AB Volvo CEO Martin Lundstedt at webcast investor update in London: Asked about his view of customer behaviour in wake of UK Brexit vote: . "I think we will probably see some short-term reactions - that depends also on what sector you are into, what type of contracts you have" . "But I don't think it will have a big, lasting effect actually." Source: http://media.fronto.com/cloud/volvo/cap0627/ Further company coverage: [VOLVb.ST] ((niklas.pollard@thomsonreuters.com;)).  Full Article

Volvo Auto India says all Indian models comply with "stringent emission norms"
Wednesday, 25 May 2016 05:16am EDT 

Volvo Auto India: Volvo Auto India - All models in India are available in sub 2L engine options and comply with the most stringent emission norms .  Full Article

Volvo names Jan Ohlsson as head of Trucks Operations
Monday, 23 May 2016 04:20am EDT 

Volvo AB : Says Jan ohlsson appointed member of Volvo's Group Executive Board and Executive Vice President Group Trucks Operations, Volvo Group's global truck manufacturing organization .Says Ohlsson currently already serves as the Acting Head of Group Trucks Operations.  Full Article

Volvo completes sale of IT operation
Friday, 1 Apr 2016 02:30am EDT 

Volvo AB:Has completed the final agreement with HCL Technologies for the sale of its external IT operation and related assets and the outsourcing of its IT infrastructure.  Full Article

Volvo AB - Some Volvo Trucks Taken Off Road - DJCP
Thursday, 24 Mar 2016 01:35am EDT 

Volvo AB:The U.S. Department of Transportation ordered thousands of Volvo AB heavy-duty trucks off the road Wednesday, after the company announced a recall last week because of potential defects that could cause drivers to lose control of their vehicles. - DJCP.The order marks the first time regulators have pulled a particular manufacturer's trucks from service, regulators say, and will likely force some fleet operators to scramble to find new big rigs to avoid stranding their customers' cargo.Earlier this month, Volvo told federal regulators that it may have installed 19 defective steering shafts among the roughly 15,835 trucks sold in the U.S. between May 11 and March 8.The defective units were manufactured without roll pins, parts that ensure a shaft's two parts hold together.If a shaft comes apart, it could cause the driver to lose control of the truck. Volvo later identified a second steering shaft defect affecting the same pool of nearly 16,000 trucks.John Mies, a Volvo spokesman, said Wednesday that 13,761 trucks have already been taken out of service and 6,300 of those had been repaired, out of the total of 18,638 sold in the U.S. and Canada.The repair used an interim fix to secure the two parts of the steering shaft. On Wednesday, the company sent instructions to drivers, via their dashboard display software, instructing them to contact Volvo.  Full Article

Volvo AB says to recall 18,600 trucks in North America - Reuters News
Wednesday, 16 Mar 2016 07:13am EDT 

Volvo AB:Ruck maker Volvo VOLVb.ST is recalling around 18,600 trucks in North America, Volvo spokesman says - RTRS.Says trucks being recalled to replace certain components related to steering.Recalled trucks produced in North America, delivered to customers in the U.S., Canada and Mexico.  Full Article

Volvo finalises IT business sale, capital gain of SEK 900 mln
Tuesday, 16 Feb 2016 02:30am EST 

Volvo AB:Has signed final agreement for sale of it operation.Says transaction is expected to be implemented on March 31, 2016, following fulfillment of certain conditions and will entail both sustained cost savings and a capital gain corresponding to 900 million Swedish crowns.Says capital gain will have positive impact, in corresponding amount, on Volvo Group's operating income and financial net debt in Q1.Volvo announced in Oct. 2015 the plan to sell its external IT operation and outsource the operation of its IT infrastructure to HCL Technologies.  Full Article

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