Negotiations being held regarding future of carrus bus production in Finland

NEGOTIATIONS BEING HELD REGARDING FUTURE OF CARRUS BUS PRODUCTION IN FINLAND The management of Carrus OY has today requested a meeting with the local trade unions at the plant in Vanda, Finland, for discussions regarding a possible shutdown of bus production. The structural changes in Carrus OY were announced in 1998, which meant that one of three plants - Vanda - would be shut down. Discussions will begin within a week and are expected to be completed within six weeks. The plans are based on an analysis of Volvo Buses' European industrial structure and anticipated market trends. The plant currently has about 200 employees and last year produced 150 city buses, primarily for the Nordic market. Carrus is a wholly owned subsidiary of Volvo Buses. Carrus has a total of 800 employees, with annual sales in 2000 of FIM 600 M. March 27, 2001 For additional information, contact: Harry Ström, President, Carrus OY Tel: +358 400 627 176, Tfx: +358 327 7112 60 E-mail: harry.strom@volvo.com Heléne Mellquist, Corporate Communications Manager Volvo Bus Corporation Tel: +46 31 66 12 06, Tfx: +46 31 66 72 88 E-mail: info.buses@volvo.com ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/03/27/20010327BIT01100/bit0001.doc http://www.bit.se/bitonline/2001/03/27/20010327BIT01100/bit0001.pdf