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Volvo AB (VOLVa.ST)

VOLVa.ST on Stockholm Stock Exchange

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Latest Key Developments (Source: Significant Developments)

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

Volvo proposes SEK 3 per share as dividend for 2015
Friday, 5 Feb 2016 12:20am EST 

Volvo AB:Proposes unchanged dividend of 3.00 Swedish crowns per share for 2015.  Full Article

Volvo says moves to brand-based organisation
Wednesday, 27 Jan 2016 02:30am EST 

Volvo AB:Says ‍is introducing a brand-based organization with clearer commercial accountability for group's various truck brand​.Changes to Volvo's group executive board and truck organization with clearer commercial accountability.Says ‍four separate units will be created: Volvo Trucks, UD Trucks, Renault Trucks and Mack Trucks, each with profit and loss responsibility for their respective business.Says organizational changes will not have any planned effect on the number of employees in the Group​.  Full Article

Volvo Cars and Ericsson developing intelligent media streaming for self-driving cars
Monday, 4 Jan 2016 06:24am EST 

Volvo AB:Volvo Cars and Ericsson developing intelligent media streaming for self-driving cars.  Full Article

Volvo AB trucks will lay off 734 production workers at its plant in southwest Virginia due to a slowdown in demand -AP - Reuters
Tuesday, 1 Dec 2015 05:31pm EST 

Volvo AB:Volvo Trucks will lay off 734 production workers at its plant in southwest Virginia due to a slowdown in demand, the company disclosed Tuesday - AP.Layoffs at the New River Valley Assembly Plant in Dublin will take place over three weeks starting in early February, company spokesman John Mies said -AP.  Full Article

Volvo AB says to reduce North America truck production
Thursday, 19 Nov 2015 02:30am EST 

Volvo AB:Production in North America will be adjusted as a consequence of lower demand and high inventories in distribution channel.  Full Article

Volvo AB wins arbitration case concerning defective components
Tuesday, 10 Nov 2015 06:30am EST 

Volvo AB:Wins arbitration case concerning defective components.Says current assessment is that outcome will have a positive impact of about 800 million Swedish crowns on Volvo Group's operating profit in Q4.The deliveries were made several years ago and the problem was corrected in the production process many years ago.  Full Article

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UPDATE 1-Volvo Cars says new generation of diesel engines could be the last-CEO

* Diesel will play crucial role in move to cut CO2 -CEO (Adds comments from Volvo)