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Volvo AB (75JC)

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Friday 09 November, 2001

Volvo AB

Industrial Co-operation Talks

Volvo AB
9 November 2001


Volvo Construction Equipment and Komatsu Ltd have initiated discussions 
regarding future co-operation in the production and development of construction 
equipment components. Tangible outcomes from the discussions are expected by 
mid-year 2002.

The intention is to determine whether both companies can find ways to strengthen
their cost competitiveness and to increase customer satisfaction.

'We believe this co-operation could lead us to find high quality and cost 
effective solutions,' says Mr. Masahiro Sakane, President of Komatsu, and 
Mr. Tony Helsham, President & CEO of Volvo Construction Equipment, in a common 
statement to the announcement.

In the discussions, Volvo Construction Equipment and Komatsu will not include 
sales, service, distribution and equity participation.

Both companies will continue to engage in business as independent competitors 
using their own dealer networks, brands and identities.

November 9, 2001

For more information, please contact:

Mr Klas Magnusson, Senior Vice President, Corporate Communications, Volvo 
Construction Equipment
Tel: +32 2 482 5065,  Mobile: +32 475 576214

Volvo   Construction   Equipment  is  a  major   international   company  
developing,  manufacturing and marketing equipment for construction  and  
related industries. Its products, leaders in many world markets, include  a   
comprehensive   range   of  wheel  loaders,  hydraulic   excavators,  
articulated   haulers,  motor  graders  and  compact  equipment.   Volvo  
Construction  Equipment  is  part  of the  Volvo  Group,  world  leading  
manufacturer  of  trucks,  buses,  construction  equipment,  marine  and  
industrial engines, and aerospace systems and components. 


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