Sale of Volvo Aero’s US subsidiary completed

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The divestment of Volvo Aero’s US subsidiary, Volvo Aero Services, has been completed. The new owner is an affiliate of the Global private investment firm, H.I.G. Capital.

In July, Volvo Aero announced that an agreement had been signed regarding the divestment of the US subsidiary, Volvo Aero Services, in Florida, USA.

The new name of the company is “VAS Aero Services” and Claes Malmros will remain President of the company.

The decision to divest Volvo Aero Services was based on the strategy to focus on Volvo Aero’s core business of developing and manufacturing aero engine components.

Maintenance, repair and overhaul of aero engines and gas turbines in Trollhättan, Sweden, are not affected by the sale.

October 7, 2010

Reporters who want more information on VAS Aero Services,, please contact Claes Malmros, Tel: +1 561 998 9330.

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The Volvo Group is one of the world’s leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services. The Group also provides complete solutions for financing and service. The Volvo Group, which employs about 90,000 people, has production facilities in 19 countries and sells their products in more than 180 markets. In 2009 annual sales of the Volvo Group amounted to about SEK 218 billion. The Volvo Group is a publicly-held company headquartered in Göteborg, Sweden. Volvo shares are listed on OMX Nordic Exchange Stockholm. For more information, please visit www.volvogroup.com or www.volvogroup.mobi if you are using your mobile phone.