Key Developments: Volvo AB (VOLVY.PK)

VOLVY.PK on OTC Markets Group

27 Feb 2015
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Latest Key Developments (Source: Significant Developments)

Volvo AB proposes bilfinger chairman Eckhard Cordes as new board member
Wednesday, 25 Feb 2015 02:40am EST 

Volvo AB:Martina Merz and Eckhard Cordes proposed as new board members of AB Volvo.Cordes, partner at Cevian Capital, is currently Chairman of the Board of industrial group Bilfinger SE.Says Merz recently relinquished her position as CEO of global brake manufacturer Chassis Brakes International.  Full Article

Volvo AB in talks with Mahindra & Mahindra Ltd, Hindustan Motors Ltd & General Motors India to assemble cars in India-Business Standard
Monday, 23 Feb 2015 12:55am EST 

Volvo AB:Is in talks with Mahindra & Mahindra Ltd (M&M), Hindustan Motors Ltd (HM) and General Motors (GM) India to explore the feasibility of utilising one of their facilities to locally assemble its vehicles in India-Business Standard.  Full Article

DEUTZ AG scraps Chinese joint venture with Volvo AB
Tuesday, 10 Feb 2015 07:00pm EST 

Volvo AB:DEUTZ AG Consolidates activities in China.DEUTZ AG agreed with AB Volvo not to realise planned JV Deutz Engine (China) Co Ltd.DEUTZ AG cites weak market situation in China as reason for scrapping plans for JV with Volvo.  Full Article

Volvo AB says idles Russian Kaluga plant- Reuters
Friday, 6 Feb 2015 09:55am EST 

Volvo AB:Volvo halts production at Russian Plant, to reduce work force by 30 pct at Kaluga plant - news agency Direkt.Volvo official says confirms halting Russian Kaluga plant output.  Full Article

Volvo AB starts reduction of 1,000 employees
Thursday, 5 Feb 2015 01:20am EST 

Volvo AB:Started implementation of further measures in VCE, leading to reduction of 1,000 employees.  Full Article

Volvo proposes SEK 3.00/share as dividend for FY 2014
Thursday, 5 Feb 2015 01:20am EST 

Volvo AB:Proposes a dividend of 3.00 Swedish crowns per share for FY 2014.Paid dividend of 3.00 crowns per share for FY 2013.  Full Article

Volvo AB completes the acquisition of 45 pct of Dongfeng Commercial Vehicles
Monday, 5 Jan 2015 07:33am EST 

Volvo AB:Completes acquisition of 45 pct of the Chinese automotive manufacturer, Dongfeng Commercial Vehicles Co., Ltd.Purchase consideration amounted to 5.5 bln yuan.  Full Article

Volvo AB's subsidiary issues hybrid bond
Thursday, 4 Dec 2014 02:35am EST 

Volvo AB:Has issued a hybrid bond via its subsidiary Volvo Treasury AB, amounting to 1.5 bln Euros in order.Settlement of the bond issue is scheduled to take place on Dec. 10.The hybrid bond will be eligible for 50 pct equity treatment from both Moody's and S&P when calculating Volvo's credit ratios.  Full Article

Volvo AB receives statement of objections from the European Commission
Thursday, 20 Nov 2014 06:30am EST 

Volvo AB:Says receives statement of objections from the european commission regarding on-going antitrust investigation.Says statement of objections does not prejudice final outcome of commission proceedings.Says is evaluating implications of statement of objections.Says is cooperating fully with authorities and has previously announced that it is of view that it is probable that group's financial result and cash flow may be materially adversely affected.  Full Article

Volvo transfers backhoe loaders, motor graders output to SDLG
Thursday, 13 Nov 2014 09:00am EST 

Volvo AB:As part of the Volvo Group's ongoing activities to improve profitability and reduce costs, Volvo Construction Equipment will discontinue development and production of its current product line of Volvo-branded backhoe loaders and motor graders.In the future, these products will instead be manufactured by Volvo CE's Chinese company SDLG.Combined with other efficiency enhancement measures, this will result in a workforce reduction of about 1,000 employees, of whom the majority are in Poland, the US and Brazil.Ceasing European production of backhoe loaders will result in the closure of Volvo CE's operations in Wroclaw.  Full Article

BRIEF-TNT Express receives contract renewal from AB Volvo

* 3-year contract renewal from the Swedish truck and bus maker AB Volvo for 'inbound to production' and aftermarket delivery services in Europe

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