Key Developments: Volvo AB (VOLVb.ST)

VOLVb.ST on Stockholm Stock Exchange

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Latest Key Developments (Source: Significant Developments)

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

Volvo intends to divest external IT business and outsource IT infrastructure operations to HCL Technologies Ltd
Tuesday, 20 Oct 2015 03:10am EDT 

HCL Technologies Ltd:Enters into Letter of Intent with Volvo Group for undertaking an outsourcing engagement for its IT infrastructure and operations services.Says total contract value which is for five years is not disclosed.Says that in addition, HCL would be acquiring from the Volvo Group, its external IT business relating to provision of IT infrastructure, mainframe services and application operation services for an all cash consideration of SEK 1.1 billion ($138 million).  Full Article

Volvo AB recalls around 4,000 trucks in North America - NHTSA - Reuters
Tuesday, 15 Sep 2015 08:00pm EDT 

Volvo AB:Truck maker Volvo is recalling just over 4,000 trucks in North America, according to a notice on the website of the National Highway Traffic Safety Administration - Reuters.2,854 trucks are being recalled due to possible problems with the hand brake handle, while potential drag link problems are behind a recall of a further 1,319 trucks, according to NHTSA - Reuters.  Full Article

Volvo to resume trucks production in Kaluga, Russia in Q4-Reuters
Wednesday, 9 Sep 2015 04:37am EDT 

Volvo AB:Says to resume trucks production in Kaluga, Russia during Q4 - spokeswoman-Reuters.Says production in Kaluga to start at ”very low levels” - spokeswoman.Volvo idled the Kaluga plant in February.  Full Article

Volvo AB to recall up to 10,000 cars over airbag glitch - Reuters
Wednesday, 5 Aug 2015 08:00pm EDT 

Volvo AB:Says Volvo Car Group said it would recall between 9,000 and 10,000 of its XC90 model cars globally to fix a potential problem with one of the car's airbags - Reuters.Says the model affected is the new seven-seat 2016 XC90, in which the third row side airbag curtain may not deploy properly due to a panel covering the airbag.Says Volvo Car Group spokesman Stefan Elfstrom said all new cars were now being fixed prior to delivery, and customers who bought the car in question would be notified.  Full Article

Volvo AB confirms sells Eicher stake, capital gain about SEK 2.1 bln
Wednesday, 3 Jun 2015 08:00pm EDT 

Volvo AB:Says sells remaining 1.01 million shares in Eicher Motors, capital gain about 2.1 billion Swedish cronws.Says sale has no impact on ownership nor development of joint venture VE Commercial Vehicles.Says had sold 1.27 million shares in Eicher in March.  Full Article

Martin Lundstedt appointed president and CEO of Volvo Group
Wednesday, 22 Apr 2015 01:17am EDT 

Volvo AB:Says that AB Volvo has decided to appoint Martin Lundstedt as president and chief executive officer of the Volvo Group.Says Martin Lundstedt will assume his position in Oct. 2015.Says Jan Gurander, group chief financial officer, will be acting president and chief executive officer in the interim.  Full Article

Volvo AB: CEO set to leave company
Thursday, 19 Mar 2015 03:12am EDT 

Volvo AB:Chief executive Olof Persson may be forced to leave the company in the next few weeks.One likely candidate for new CEO is Martin Lundstedt, chief of Volkswagen's truck-making unit Scania.  Full Article

Volvo AB to sell Eicher Motors Ltd stake-Business Standard
Tuesday, 3 Mar 2015 06:22am EST 

Volvo AB:Is selling part of its stake in Eicher Motors worth 18.57 bln Indian Rupees ($300 million) in the secondary markets thus marking the exit of the foreign company from the Indian motorcycle maker-Business Standard.Volvo holds 8.4 pct stake in Eicher Motors.The stake sale is managed by Bank of America Merrill Lynch.  Full Article

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