Volvo Acquires Compaction Equipment Assets From SuperPac

Goteborg, SWEDEN

STOCKHOLM, Sweden, March 14, 2002 (PRIMEZONE) -- Volvo Construction Equipment (Volvo CE) has acquired the compaction equipment assets from SuperPac Inc. Included are the exclusive manufacturing and product design rights to a range of 7 different soil compactors.

Facilities for production are not part of the agreement. Fabrication will be outsourced and final assembly will be located at the Volvo CE plant in Asheville, NC.

The product range will initially be distributed through Volvo CE's recently launched rental initiative and certain dealers under the SuperPac brand. Volvo will continue to develop the products and at a later stage brand them Volvo (Nasdaq:VOLVY).

"This is another very good opportunity for us to acquire a product line and expand our offer to our customer base. The recent developments regarding the launch of our internally developed backhoe loader together with the acquisitions of the telehandler and skidsteer loader ranges show that Volvo has a strong commitment to the growing construction equipment business," says Mr. Tony Helsham, President and CEO of Volvo Construction Equipment.

Compaction Rollers are used primarily in conjunction with motor graders during the construction and maintenance of roads. The total worldwide market is approximately 30,000 units per year.

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