Agreement with Mitsubishi Heavy Industries, Volvo Penta add new product range

AB Volvo Penta Press Information AGREEMENT WITH MITSUBISHI HEAVY INDUSTRIES VOLVO PENTA ADD NEW PRODUCT RANGE AB Volvo Penta and Mitsubishi Heavy Industries Ltd (MHI) have now signed a global agreement on distribution of diesel engines with cylinder volume between 24 and 65 litres. The engines will be branded Volvo Penta and marketed and serviced by Volvo Penta's global distribution networks. The new Volvo Penta product range will mainly be used for marine commercial applications such as passenger and cargo transportation, fishing boats and workboats as well as marine generator sets. Since late 1997 Volvo Penta and Mitsubishi had a Letter of Intent on distribution of Mitsubishi branded engines on selected markets in Europe. And before that Volvo Penta has a well-established marketing and distribution relationship in Spain with Mitsubishi Equipment Europe BV. Continued discussion between the parties has now ended in a global agreement where MHI supplies Volvo Penta branded engines to be distributed and serviced by Volvo Penta in over 100 markets. Mitsubishi Heavy Industries Ltd provides Volvo Penta with engines according to agreed specifications, in the range from 24 to 65 litres with power outputs from 640 to 1,900 horsepower. Deliveries of engines from the new Volvo Penta range through Volvo Penta global distribution network will start 2001. August 16, 2000 For further information from media, please contact: Bengt Kjellberg, Vice President, AB Volvo Penta, Corporate Communication & Business Intelligence, Tel. +46 31 66 83 11, Fax +46 31 50 81 97, mobile +46 708 66 83 13, e-mail: vp.kje@memo.volvo.se. ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2000/08/16/20000815BIT00740/bit0001.doc http://www.bit.se/bitonline/2000/08/16/20000815BIT00740/bit0002.pdf