Mon, Oct. 19, 8:08 AM
- Westport Innovations (NASDAQ:WPRT) announces new agreements with Volvo (OTCPK:VOLVY) governing the development, commercial launch and supply of High Pressure Direct Injection 2.0 technology in its heavy-duty trucks over the next several years.
- For competitive reasons, further terms and conditions of the commercial agreements have not been disclosed.
Wed, Apr. 22, 2:51 AM
- As it intensifies its focus on growth and efficiency, Volvo (OTCPK:VOLVY) has appointed the head of rival Swedish truckmaker Scania (OTCPK:SVKBY) as its new top executive, replacing Olof Persson with Martin Lundstedt.
- Sweden's biggest company by sales also released its first quarter results two days ahead of schedule, reporting Q1 net sales of 74.8B kronor ($8.6B), up from 65.6B kronor a year-ago.
Thu, Mar. 19, 10:46 AM
- Volvo (OTCPK:VOLVF, OTCPK:VOLVY) CEO Olof Persson is on the hot seat, according to stories from Swedish media.
- One report has Persson losing his job within a few weeks to be replaced by Scania chief Martin Lundstedt.
- The truck maker missed its operating margin target last year amid pressure in China and is on the radar of activist investors.
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.
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.
Jul. 5, 2012, 3:03 AM
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
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