Volvo Trucks North America and UAW Agree on Three-Year Contract
March 17 2008 - 3:22AM
Business Wire
Regulatory News: Volvo (NASDAQ:VOLV)(STO:VOLVA)(STO:VOLVB):
Employees represented by the United Auto Workers have ratified a
new three-year agreement covering about 2,600 members of UAW Local
#2069 at the New River Valley, VA, plant. The new contract takes
effect on March 17, and will expire on March 16, 2011. The
agreement ends the UAW strike that began on February 1. "This
agreement will help us improve the competitiveness of our NRV
plant, while continuing to provide our employees with a very
competitive package of wages and benefits," said Per Carlsson,
president and CEO of Volvo Trucks North America. "Our focus now is
on getting trucks to our customers as soon as possible, and
strengthening our relationship with our NRV employees." Employees
will return to work on March 24, when the plant will begin ramping
up to an average daily production rate of 146 vehicles a day. March
17, 2008 Visit http://www.thenewsmarket.com/volvogroup to access
broadcast-standard video from Volvo Group. You can preview and
request video, and choose to receive as a MPEG2 file or by Beta SP
tape. Registration and video is free to the media. AB Volvo (publ)
may be required to disclose the information provided herein
pursuant to the Securities Markets Act. The information was
submitted for publication at 08.00 a.m. March 17, 2008. 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 100,000 people, has production
facilities in 19 countries and sells their products in more than
180 markets. Annual sales of the Volvo Group amount to about SEK
285 billion. The Volvo Group is a publicly-held company
headquartered in Goteborg, Sweden. Volvo shares are listed on OMX
Nordic Exchange Stockholm. This information was brought to you by
Cision http://newsroom.cision.com Regulatory News: Volvo
(NASDAQ:VOLV)(STO:VOLVA)(STO:VOLVB): Employees represented by the
United Auto Workers have ratified a new three-year agreement
covering about 2,600 members of UAW Local #2069 at the New River
Valley, VA, plant. The new contract takes effect on March 17, and
will expire on March 16, 2011. The agreement ends the UAW strike
that began on February 1. �This agreement will help us improve the
competitiveness of our NRV plant, while continuing to provide our
employees with a very competitive package of wages and benefits,�
said Per Carlsson, president and CEO of Volvo Trucks North America.
�Our focus now is on getting trucks to our customers as soon as
possible, and strengthening our relationship with our NRV
employees.� Employees will return to work on March 24, when the
plant will begin ramping up to an average daily production rate of
146 vehicles a day. March 17, 2008 Visit
http://www.thenewsmarket.com/volvogroup to access
broadcast-standard video from Volvo Group. You can preview and
request video, and choose to receive as a MPEG2 file or by Beta SP
tape. Registration and video is free to the media. AB Volvo (publ)
may be required to disclose the information provided herein
pursuant to the Securities Markets Act. The information was
submitted for publication at 08.00 a.m. March 17, 2008. 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 100,000 people, has production
facilities in 19 countries and sells their products in more than
180 markets. Annual sales of the Volvo Group amount to about SEK
285 billion. The Volvo Group is a publicly-held company
headquartered in G�teborg, Sweden. Volvo shares are listed on OMX
Nordic Exchange Stockholm. This information was brought to you by
Cision http://newsroom.cision.com
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