GOTEBORG, Sweden, Nov. 20, 2003 (PRIMEZONE) -- Volvo Buses (Nasdaq:VOLVY) (Other OTC:VOLVF) (Other OTC:VOLAFK) has signed an order for 150 buses for Budapest's municipal transport. This is the first time ever that a foreign company has won an order for municipal transport in Budapest. "This is a big breakthrough for Volvo Buses", says Fredrik Rostad, Sales Manager -- Eastern Europe.
Volvo Buses won the order in competition with every major bus manufacturer in Europe. The customer, BKV Rt, is a municipal company with responsibility for all urban public transport in Budapest.
The buses entering service in Budapest are the 7700 model articulated bus, which is a typical low-floor bus designed for urban public transport. The buses will be delivered complete and are being built in Volvo Buses' factory in Poland.
"We view this order as the start of a long-term cooperation in which we will do everything to be the best possible partner for the future," says Fredrik Rostad.
The first 50 buses are to be delivered in May 2004, and the remaining 100 during 2004/2005.
November 20, 2003
For further information, please contact Christina Fjellman, +46-739-02 42 80
Volvo Bus Corporation is the world's second-largest manufacturer of large buses and coaches. The range comprises complete vehicles, chassis, bus bodies, transport system solutions for metropolitan traffic, leasing, financing and service contract maintenance. Volvo Bus Corporation is part of the Volvo Group, 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.
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http://www.waymaker.net/bitonline/2003/11/20/20031120BIT20260/wkr0007.doc
buses budapest eng doc
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