Volvo finalizes acquisition of Ingersoll Rand's road development equipment division

Volvo finalizes acquisition of Ingersoll Rand's road development equipment
division

Today, April 30, 2007, Volvo concluded the acquisition of US based Ingersoll
Rand's road development equipment division, other than operations in India which
will follow shortly. The division will be consolidated in the Volvo Group from
May 1, 2007. The transaction was initially announced on February 27, 2007.

Volvo has now received the necessary approvals from the relevant authorities and
other permits required to conclude the acquisition in all countries except
India, which is expected to follow shortly.

Ingersoll Rand's operations in road development equipment comprise soil and
asphalt compactors, asphalt pavers and milling machines as well as material
handling equipment such as telescopic handlers and rough terrain forklifts. As
previously reported, the purchase consideration for the assets amounts to about
USD 1.3 billion, about SEK 8.8 billion.

Ingersoll Rand's road development division - with production facilities in the
US, Germany, India and China - is headquartered in Shippensburg, Pennsylvania,
US and has about 2,000 employees. Operations posted sales in 2006 of USD 864
million, with operating profit of USD 101 M. 

April 30, 2007

For further information, please contact  
Volvo Construction Equipment: Klas Magnusson, +32 2 4825065 or +32 475 576214
AB Volvo, Media Relations: Mårten Wikforss, +46 31 66 11 27 or +46 705 59 11 49


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. The Group also provides complete solutions
for financing and service. The Volvo Group, which employs about 83,000 people,
has production facilities in 18 countries and sells their products in more than
180 markets. Annual sales of the Volvo Group amount to about 27 billion euro.
The Volvo Group is a publicly-held company headquartered in Göteborg, Sweden.
Volvo shares are listed on the Stockholm stock exchange and on NASDAQ in the US.