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Volvo AB (VOLAF)

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  • Nov. 12, 2014, 2:44 AM
    • Volvo (OTCPK:VOLVY) will cut around 3,000 employees as part of a savings plan to boost profitability, Reuters reports quoting business daily Dagens Industri.
    • Last month, Volvo said it planned to make 3.5B Swedish crowns ($474M) of structural cost cuts by the end of next year following an earlier savings package.
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  • Jul. 21, 2014, 7:09 AM
    • Volvo (OTCPK:VOLVY) says it expects a 440M Swedish crown ($64M) blow to operating income for Q3 after a U.S. court upheld a 508M Swedish crown emissions fine over the automaker's Volvo Penta diesel engines.
    • "Volvo will now review the ruling in detail, and consider whether to appeal or not," says the company.
    • Last week, Volvo posted core earnings well below Q2 expectations due to slow demand for European trucks and a weakening market for construction equipment in China.
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  • Jul. 5, 2012, 3:03 AM
    GKN Plc agreed to buy Volvo's aircraft-engine unit for around £700M ($1.1B), sources say, with an announcement expected as soon as today.
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Company Description
Volvo is a producer of trucks, buses, construction equipment, drive systems for marine and industrial applications as well as components for aircraft engines. Volvo also provides financial services to its customers. Co. is organized into eight product-related business areas (Volvo Trucks,... More
Country: Sweden