Key Developments: Volvo AB (VOLVY.PK)

VOLVY.PK on OTC Markets Group

20 Aug 2014
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Latest Key Developments (Source: Significant Developments)

Volvo ordered by US Court to pay penalties in engine emission case
Friday, 18 Jul 2014 10:00am EDT 

Volvo AB:Says the U.S. Court of Appeals has ruled that the Volvo Group should pay penalties and interest of about 508 million Swedish crowns following dispute between the Volvo Group and the U.S. Environmental Protection Agency (EPA).Says the dispute regarded emission compliance of diesel engines.Expects the ruling to have a negative impact on the Group's operating income of about 440 million crowns in Q3 in the segment Group functions and other.The Court of Appeals of Columbia Circuit affirmed a District Court's ruling that model year 2005 Volvo Penta engines violated the provisions of a Consent Decree.  Full Article

Volvo AB reaches agreement with Scandinavian Logistics Partners AB to sell surplus capacity in rail transport from Belgium to Sweden
Monday, 30 Jun 2014 03:00am EDT 

Volvo AB:Reaches agreement with Scandinavian Logistics Partners AB (Scanlog) to sell surplus capacity in rail transport from Belgium to Sweden.Says agreement will produce benefits in terms of costs and environmental impact.Volvo Group's freight train, the so-called "Train 8" leaves from Umeå via Älmhult in Sweden fully loaded with truck components to the Group's truck plant in Ghent, Belgium with ten departures a week.Says But only 10 pct of the load capacity is used during the return trip to Sweden.  Full Article

Volvo unit Nova Bus o deliver 55 Nova LFS buses to the Toronto Transit Commission-DJ
Wednesday, 11 Jun 2014 11:01am EDT 

Volvo AB:Nova Bus, part of the Volvo Group, has secured an order valued at $32.6 million for 55 buses to the Toronto Transit Commission (TTC)-DJ.Delivery of the first of the 40-foot diesel buses, including a pilot bus, will begin in 2015.  Full Article

Volvo Busses delivers 124 articulated buses to the BRT-system of Rio de Janeiro
Monday, 2 Jun 2014 08:00pm EDT 

Volvo AB's Volvo Busses:Says has delivered 124 articulated buses to Rio de Janeiro’s BRT (Bus Rapid Transit) system.The vehicles will operate on Transcarioca, a new BRT corridor that opens in June.The articulated buses, which will be bodied by Neobus and Marcopolo, are 21 meters long and carry 180 passengers.No financial details.  Full Article

Volvo AB completes acquisition of hauler business
Monday, 2 Jun 2014 02:03am EDT 

Volvo AB:Says the previously announced acquisition of Terex's hauler business was completed.The purchase consideration amounted to $160 mln (about one nine bln Swedish Crown) on a cash and debt free basis.  Full Article

Volvo Busses receives order for 47 hybrid buses from Nobina
Wednesday, 21 May 2014 08:00pm EDT 

AB Volvo's Volvo Busses:Receives order from Nobina for 47 Volvo hybrid buses for Swedish cities Sundsvall and Ornskoldsvik.The buses enter operation in September.The order encompasses 36 two-axle Volvo 7900 Hybrid buses and 11 Volvo 7900 Hybrid Articulated buses, as well as 11 diesel-powered Volvo 8900 low-entry buses.No financial details.  Full Article

Moody's affirms Volvo Baa2 ratings; outlook remains negative
Monday, 28 Apr 2014 08:00pm EDT 

Moody's Investors Service Ltd:Affirms the Baa2 long-term and Prime-2 short-term ratings of AB Volvo and its rated subsidiaries.Says the outlook on all the ratings remains negative.  Full Article

Fitch withdraws Volvo AB's short-term ratings-DJ
Wednesday, 16 Apr 2014 10:49am EDT 

Volvo AB:Fitch Ratings has affirmed Volvo's Short-term Issuer Default Rating and instrument ratings at F3 and withdrawn the ratings-DJ.Fitch has decided to discontinue the above ratings, which are uncompensated.All other ratings assigned to Volvo are unaffected by the withdrawal, and analytical coverage of this issuer will continue.  Full Article

AB Volvo completes real estate transaction
Tuesday, 15 Apr 2014 07:10am EDT 

AB Volvo:Says previously announced sale of commercial real estate has been essentially completed.On April 15, companies within the Volvo Group completed a transaction where about 1.8 bln Swedish Krona of the total purchase sum of about 2 bln Swedish Krona was transferred.The remaining part of the transaction is expected to be completed later during the Q2 2014.  Full Article

Volva Group's AB Volvo to divest commercial real estate
Friday, 28 Mar 2014 03:38am EDT 

AB Volvo:Signed agreement to sell commercial real estate to companies jointly owned by Hemfosa Fastigheter AB and AB Sagax, and to companies owned by AB Sagax.Purchase consideration, on a cash and debt free basis, is expected to be about 2 bln swedish crown.Transaction expected to be closed in Q2 of 2014.  Full Article

UPDATE 1-Volvo posts surprise fall in truck shipments, U.S. only bright spot

* Deliveries also slump in Latin America, Asia (Adds Volvo comments, detail, background)

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