Volvo Trucks and Volvo Construction Equipment sign contract with Serbian ministry of construction

VOLVO TRUCKS AND VOLVO CONSTRUCTION EQUIPMENT SIGN CONTRACT WITH SERBIAN MINISTRY OF CONSTRUCTION Volvo Trucks and Volvo Construction Equipment have signed a letter of intent with Republic of Serbia Republican Roads Directorate covering delivery of slightly more than 100 trucks and construction equipment. Total value of the transaction is SEK 120 M. The vehicles will be used throughout Serbia in the build-up of the Serbian road network. The letter of intent pertains to Volvo FM12 truck for construction duties as well as excavators, wheel loaders and motor graders. "This order is significant for us since it represents a penetration of an important market and because it also demonstrates that we can conduct business through the joint efforts of the various business areas within the Group," says Leif Johansson, President of AB Volvo. June 25, 2002 For further information, pls contact Claes Claeson, Volvo Trucks, +46 31 66 39 08, +46 708 36 39 08, or Klas Magnusson, Volvo Construction Equipment, +32 475 57 62 14. The Volvo Group is one of the world's leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications and aircraft engine components. The Group also provides complete solution for financing and service. The Group has about 71,000 employees, production in 25 countries and operations are carried out in more than 185 markets. Annual sales of the Volvo Group amount to nearly SEK 180 billion. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/06/25/20020625BIT00230/wkr0001.doc http://www.waymaker.net/bitonline/2002/06/25/20020625BIT00230/wkr0002.pdf