Volvo to supply truck engines to Navistar

VOLVO TO SUPPLY TRUCK ENGINES TO NAVISTAR AB Volvo's business unit Powertrain has signed a Letter of Intent and is negotiating a long-term agreement with International Truck and Engine Corporation, a wholly-owned subsidiary of Navistar International Corporation, regarding the supply of 12 litre engines to International. "This is a very exciting development for business unit Powertrain", says the Volvo Group's President and CEO, Leif Johansson. "At a time when our North American truck operations are faced with serious challenges, this opportunity for growth within Volvo Powertrain is most welcome." The engines will be used in trucks manufactured by International in NAFTA countries, and will comply with the US 02 emission regulations. "We are very pleased that International have demonstrated confidence in our ability to fulfill the demands for the ever-stricter US emission regulations," says Lars-Göran Moberg, President of Volvo Powertrain. The engines will initially be produced at Volvo Powertrain's plant in Skövde, Sweden. However, Volvo eventually intends producing the engines in North America. May 31, 2001 For further information, please contact: Fredrik Brunell, AB Volvo, tel 46-31-59 10 91, mobile 46-70-559 10 91 Jörgen Gustafsson, Volvo Powertrain, tel 46-31-66 70 97, mobile 46-70- 840 6287 Jennifer Downes, Volvo Global Trucks, tel 46-31-66 70 21, mobile 46-70- 206 7021 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/05/31/20010531BIT00340/bit0001.doc http://www.bit.se/bitonline/2001/05/31/20010531BIT00340/bit0001.pdf