GOTEBORG, Sweden, Jan. 21, 2004 (PRIMEZONE) -- In order to provide dedicated service to the growing Eastern European markets, Volvo Financial Services announces the founding of a branch company in the Czech Republic.
Under the umbrella of VFS Germany, the Czech company is ready to start operational business in customer financing in the Czech Republic for all Volvo brand products, thereby responding quickly to the increasing demands of customers in this region. Financial services solutions for Czech customers so far include: finance and operation leasing, insurance, and maintenance. Comparable financial solutions for Renault Trucks brand products are to follow soon.
The new company will be covering the network of Czech Volvo and Renault Trucks dealers, and work together closely with the Czech Volvo and Renault Trucks importers, also based in Prague.
Holger Mandel, Managing Director of both VFS Germany and the new Czech branch, has stated, "Starting up our business in the Czech Republic is one more step towards the promising markets in the Eastern European sphere."
The strategic planning and administration will be managed by VFS Germany headquarters. Pavel Soldan and Vaclav Levy, who joined the new company as Regional Sales Managers, bring both with them solid expertise in financial services and will be responsible for operations and customer relations in the Czech market.
January 21, 2004
For further information please contact: Marco Reichwein, Marketing Manager Volvo Financial Services Germany, phone +49 6074 859-311
Volvo Financial Services (VFS) manages the Volvo Group's operations within customer financing, insurance, treasury, real estate and related services. VFS employs about 1,000 persons, operates in over 30 countries and manages approximately 7 billion euro in total assets. The Volvo Group is one of the world's leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services.
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http://www.waymaker.net/bitonline/2004/01/21/20040121BIT20490/wkr0003.doc