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Volvo AB (VOL)

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Monday 01 July, 2002

Volvo AB

Volvo Construction Equipment Sells Its Sales And S



VOLVO CONSTRUCTION EQUIPMENT SELLS ITS SALES AND SERVICE SUPPORT COMPANY
IN THE CZECH REPUBLIC

Volvo Construction Equipment (Volvo CE) has sold its sales company in
the Czech Republic, Volvo Stavebni stroje CR s.r.o, to Bilia
Baumaschinen GmbH, a wholly owned subsidiary of Bilia AB in Sweden.

The share purchase agreement was closed on 28 June 2002. The company
name will be changed to Bilia Stavebni stroje CR s.r.o. In addition to
the Czech Republic, Bilia AB is already the exclusive distributor for
Volvo CE in Norway, Denmark & Greenland, Austria, Poland, Hungary,
Slovakia, Slovenia, Croatia and Bosnia-Herzegovina.

The strategy of Volvo Construction Equipment (Volvo CE) is to have
fewer, larger, independent distributors able to provide complete sales
and service support centers. As market conditions become even more
challenging, it is vital that dealers are financially strong and able to
meet the demands of Volvo's customers.

July 1, 2002

For further information, please contact:

Mr. Chris Rees
President Region Europe
Volvo Construction Equipment
Tel: + 44 1223 251701

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http://www.waymaker.net/bitonline/2002/07/01/20020701BIT00270/wkr0001.doc 



http://www.waymaker.net/bitonline/2002/07/01/20020701BIT00270/wkr0002.pdf 


                                                                                          

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