Key Developments: Volvo AB (VOLVa.ST)

VOLVa.ST on Stockholm Stock Exchange

19 Sep 2014
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Latest Key Developments (Source: Significant Developments)

Volvo proposes FY 2013 dividend of SEK 3 per share; announces additional job cuts
Thursday, 6 Feb 2014 01:20am EST 

AB Volvo:Proposes a dividend of 3.00 Swedish crowns per share for FY 2013.Paid the same dividend of 3.00 Swedish crowns for FY 2012.Plans structural reduction of white-collar employees by 4,400, including the previously announced reduction of 2,000 consultants and employees, of which a majority will be implemented during 2014.  Full Article

Volvo completes divestiture of Volvo Rents
Monday, 3 Feb 2014 02:00am EST 

AB Volvo:Says the previously announced divestiture of Volvo Rents was completed on Jan. 31.Says the price amounted to $1,1 billion, corresponding to 7 billion Swedish crowns.Says Volvo Rents, formed in 2001, offers rental of a comprehensive range of machines intended for the construction and engineering industry, including Volvo CE products.  Full Article

AB Volvo approves joint venture between Volvo Group and Dongfeng Motor Group
Wednesday, 22 Jan 2014 07:35am EST 

AB Volvo:Says it has signed an agreement with the Chinese vehicle manufacturer Dongfeng Motor Group company Ltd (DFG) to acquire 45pct of a new subsidiary of DFG, Dongfeng Commercial Vehicles (DFCV), which will include the major part of DFG`s medium- and heavy-duty commercial vehicles business.Says through the approval by NDRC an important step has been taken towards completion of the transaction.Says completion is subject to certain conditions including the approvals of other Chinese authorities, which have not yet been obtained.Says completion of the transaction is currently expected to take place mid 2014.  Full Article

Shaanxi Construction Machinery Co Ltd signs technology licensing and supply agreement with Volvo AB's subsidiary
Wednesday, 25 Dec 2013 07:00pm EST 

Volvo AB:Shaanxi Construction Machinery Co Ltd has signed a technology licensing and supply agreement with Volvo AB's subsidiary, Volvo Construction Equipment AB, with valid period from Jan. 1, 2014 to Dec. 31, 2018.Volvo Construction Equipment AB will authorize Shaanxi Construction Machinery rights to use its technologies and patents to manufacture and sell TITAN 8620 paver and TITAN 7620 paver.Volvo Construction Equipment will also provide Shaanxi Construction Machinery parts and components of those two types of paver.Volvo Construction Equipment will also provide Shaanxi Construction Machinery parts and components of SUM 820 paver and SCMC SUM paver.  Full Article

AB Volvo to sell Volvo Rents in North America
Tuesday, 10 Dec 2013 02:30am EST 

AB Volvo:Says it has agreed to sell Volvo Rents to the United States private equity firm Platinum Equity for about 7.2 billion Swedish crowns.Says at closing, net financial debt in the Volvo Group’s Industrial Operation is expected to be reduced by the same amount.Says the transaction is expected to have a negative impact on the Group’s operating income of about 1.5 billion Swedish crowns in the fourth quarter of 2013.Says Volvo CE will continue to sell products to Volvo Rents under the new ownership.Says the purchase consideration, on a cash and debt free basis, amounts to $1.1 billion (about 7.2 billion Swedish crowns).Says the transaction is expected to be closed in the first quarter of 2014.  Full Article

Volvo to make $160 mln hauler business acquisition from Terex
Monday, 9 Dec 2013 06:30am EST 

AB Volvo:Says Volvo Construction Equipment is to acquire the hauler manufacturer Terex Equipment Ltd from the Terex Corporation.Says the deal includes the main production facility in Motherwell, Scotland; two product ranges that offer both rigid and articulated haulers; distribution of haulers in the U.S. as well as a 25.2 percent holding in Inner Mongolia North Hauler Joint Stock Co (NHL).Says purchase consideration is about $160 million (about 1 billion Swedish crowns) on a cash and debt free basis.Says the transaction is expected to be finalized during Q2 2014.  Full Article

Volvo and Eicher's JV launches Pro Series
Monday, 2 Dec 2013 02:00am EST 

AB Volvo:Says VE Commercial Vehicles Ltd (VECV) has launched the Pro Series, a new range of trucks and buses developed specifically for India and other selected growth markets.Says the Pro Series includes 11 new products (trucks and buses) and covers the entire 5 to 49 ton gross vehicle weight (GVW) range.Says VECV will start production of the Eicher Pro Series in Feb. 2014.Says VECV is a joint venture between Volvo and Eicher Motors Ltd.  Full Article

Volvo appoints Jan Gurander as CFO
Friday, 29 Nov 2013 02:30am EST 

Volvo AB:Says Jan Gurander has been appointed new Chief Financial Officer (CFO) and member of Volvo’s Group Executive Team.Says he will join Volvo on Jan. 1, 2014.Says Jan Gurander was most recently CFO at Volvo Cars.  Full Article

AB Volvo and Societe de Transport de Montreal Enter Partnership
Friday, 22 Nov 2013 11:30am EST 

Volvo AB announced that the Company's North American subsidiary, Nova Bus, and the Societe de transport de Montreal, STM, have entered into an agreement on an electrification project for the public transit system of Montreal, Canada. Nova Bus and STM signed a Memorandum of Understanding formalizing the intention of testing three Nova LFSe electric buses and two charging stations in Montreal. The goal is to have buses operational for demonstration in the third quarter of 2015 and in regular traffic for three years, beginning in 2016. The three fully electric buses will be used in city operations in Montreal and charge rapidly at bus terminals.  Full Article

R&I Affirms AB Volvo's Rating at "A"; Rating Outlook Stable
Friday, 22 Nov 2013 01:00am EST 

Rating and Investment Information, Inc. (R&I) announced that it has affirmed the rating on AB Volvo at "A". The rating outlook is stable.  Full Article


Volvo Aug truck shipments lag as Europe, Brazil weigh

STOCKHOLM - World number two truck maker Volvo posted a bigger than expected fall in truck shipments in August as a slowdown in Europe - above all in its Renault brand's home market France - and lingering weakness in Brazil weighed.

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