Volvo assembles trucks in Saudi Arabia

VOLVO ASSEMBLES TRUCKS IN SAUDI ARABIA The Volvo Truck Corporation has started assembly of heavy trucks in a new plant in Saudi Arabia. The total investment amounts to 30 MSEK. The maximum production capacity will be 600 units per year. The new truck plant, located in Jeddah, is owned to 25 percent by the Volvo Truck Corporation and to 75 percent by Volvo's partner Zahid Tractor and Heavy Machinery Co Ltd. The Volvo Truck Corporation will have the management responsibility for the company. The number of employees will be 60 persons. Volvo has sold trucks in Saudi Arabia since 1962. Today, around 4,000 Volvo trucks are in use in the country. - Saudi Arabia is an important market for the Volvo Truck Corporation in the Middle East and local assembly in the country will further strengthen our possibilities of being competitive here, says Lennart Andersson, President of the new company. October 7, 1999 For more information, please contact: Tommy Kohle, Tel: +46-31-66 65 17, mobile +46-706-766517 e-mail:vtc1.kohle@memo.volvo.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/10/07/19991007BIT00170/bit0001.doc http://www.bit.se/bitonline/1999/10/07/19991007BIT00170/bit0002.pdf