Volvo Construction Equipment and Komatsu in talks on industrial co-operation for components

Volvo Construction Equipment and Komatsu in talks on industrial co- operation for components Volvo Construction Equipment and Komatsu Ltd have initiated discussions regarding future co-operation in the production and development of construction equipment components. Tangible outcomes from the discussions are expected by mid-year 2002. The intention is to determine whether both companies can find ways to strengthen their cost competitiveness and to increase customer satisfaction. "We believe this co-operation could lead us to find high quality and cost effective solutions," says Mr. Masahiro Sakane, President of Komatsu, and Mr. Tony Helsham, President & CEO of Volvo Construction Equipment, in a common statement to the announcement. In the discussions, Volvo Construction Equipment and Komatsu will not include sales, service, distribution and equity participation. Both companies will continue to engage in business as independent competitors using their own dealer networks, brands and identities. November 9, 2001 For further information, please contact: Mr Klas Magnusson, Senior Vice President, Corporate Communications, Volvo Construction Equipment Tel: +32 2 482 5065, Mobile: +32 475 576214 Volvo Construction Equipment is a major international company developing, manufacturing and marketing equipment for construction and related industries. Its products, leaders in many world markets, include a comprehensive range of wheel loaders, hydraulic excavators, articulated haulers, motor graders and compact equipment. Volvo Construction Equipment is part of the Volvo Group, world-leading manufacturer of trucks, buses, construction equipment, marine and industrial engines, and aerospace systems and components. ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download:

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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 headquarter is located in Gothenburg, Sweden.