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Volvo AB (VOLVb.ST)

VOLVb.ST on Stockholm Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Volvo CEO sees short-term Brexit effect, but no big lasting impact
Monday, 27 Jun 2016 10:24am EDT 

AB Volvo CEO Martin Lundstedt at webcast investor update in London: Asked about his view of customer behaviour in wake of UK Brexit vote: . "I think we will probably see some short-term reactions - that depends also on what sector you are into, what type of contracts you have" . "But I don't think it will have a big, lasting effect actually." Source: http://media.fronto.com/cloud/volvo/cap0627/ Further company coverage: [VOLVb.ST] ((niklas.pollard@thomsonreuters.com;)).  Full Article

Volvo Auto India says all Indian models comply with "stringent emission norms"
Wednesday, 25 May 2016 05:16am EDT 

Volvo Auto India: Volvo Auto India - All models in India are available in sub 2L engine options and comply with the most stringent emission norms .  Full Article

Volvo names Jan Ohlsson as head of Trucks Operations
Monday, 23 May 2016 04:20am EDT 

Volvo AB : Says Jan ohlsson appointed member of Volvo's Group Executive Board and Executive Vice President Group Trucks Operations, Volvo Group's global truck manufacturing organization .Says Ohlsson currently already serves as the Acting Head of Group Trucks Operations.  Full Article

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


China's Geely beats expectations as Volvo pays off

SHANGHAI China's Geely Automobile Holdings Ltd said on Wednesday that first-half profit more than doubled, scoring its fastest earnings growth in eight years as cars designed with its Swedish affiliate Volvo won over domestic consumers.