Volvo Buses has sold body plant in Turku

Volvo Buses has sold body plant in Turku

Volvo Buses has sold the body plant in Turku, Finland. The sale is part of the
company's efforts to enhance the efficiency of the European operations.

The plant in Turku produces bodies for the Volvo 9700 model. The Turku plant is
the smallest plant within Volvo Buses, primarily producing for the Nordic
markets. During 2007, 160 bodies were produced.

The company has determined that it is more efficient to sell the plant and
purchase bodies from the new owner. The new owner will also continue to, under
licence, produce the Volvo 9700 for Nordic customers. Volvo Buses will keep the
commercial responsibility for the Volvo 9700.

The buyer consists of a group of private Finnish investors and managers from
Volvo Buses in Finland. The buyers are taking over the plant, including
personnel, as from October 1. Today there are about 300 employees in the plant. 

The divestiture of the assets is made at book value and will not have a material
impact on the earnings or the financial position of the Volvo Group.

October 1, 2008

For further information, please contact Per-Martin Johansson, press officer, +46
31 322 52 00, per-martin.johansson@volvo.com



Volvo Bus Corporation is one of the world's 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.