Key Developments: Volvo AB (VOLVa.ST)

VOLVa.ST on Stockholm Stock Exchange

23 Jan 2015
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Latest Key Developments (Source: Significant Developments)

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

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

Fitch Rates Volvo AB's Hybrid Notes 'BB+'; 50% Equity Credit; Affirms IDR at 'BBB'

(The following statement was released by the rating agency) LONDON, January 23 (Fitch) Fitch Ratings has assigned Volvo Treasury AB's EUR900m 5.5 year non-call and EUR600m 8.25 year non-call subordinated fixed to reset capital securities 'BB+' ratings. The securities are unconditionally and irrevocably guaranteed by AB Volvo (Volvo). It has also affirmed Volvo's Long-term Issuer Default Rating (IDR) and senior unsecured rating at 'BBB' and Volvo Treasury AB's senior unsecured rating at 'BBB

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