The Volvo Group receives Statement of objections from the European Commission regarding on-going antitrust investigation
The Volvo Group has on November 20, 2014 received a Statement of objections from the European Commission, stating the Commission’s preliminary view that Volvo and other companies in the truck industry may have breached EU antitrust rules. The Statement of objections does not prejudice the final outcome of the Commission proceedings. Volvo is now evaluating the implications of the Statement of objections.
In January 2011, the Volvo Group and a number of other companies in the truck industry became part of an investigation by the European Commission regarding a possible violation of EU antitrust rules. The Volvo Group is cooperating fully with the authorities and has previously announced that it is of the view that it is probable that the Group’s financial result and cash flow may be materially adversely affected as a result of the Commission’s investigation.
The Statement of objections is a formal step in the Commission’s antitrust investigations, informing the parties concerned in writing of the Commission’s preliminary standpoint. Subsequent to the Statement of objections the parties may examine the documents in the Commission's investigation file and provide a response, before the Commission takes a decision on the matter. Volvo is now evaluating the implications of the Statement of objections and will issue a response in due course.
November 20, 2014
Journalists who require further information are requested to please contact Kina Wileke, +46 (0)31-323 7229 or +46 (0) 765-537229.
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The Volvo Group is one of the world’s leading manufacturers of trucks, buses, construction equipment and marine and industrial engines. The Group also provides complete solutions for financing and service. The Volvo Group, which employs about 110,000 people, has production facilities in 18 countries and sells its products in more than 190 markets. In 2013 the Volvo Group’s sales amounted to about SEK 270 billion. The Volvo Group is a publicly-held company headquartered in Göteborg, Sweden. Volvo shares are listed on Nasdaq Stockholm. For more information, please visit www.volvogroup.com or www.volvogroup.mobi if you are using your mobile phone.
AB Volvo (publ) may be required to disclose the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 12.30 p.m November 20, 2014.