Volvo Trucks, UAW Reach Tentative Agreement

Volvo Trucks North America announced that the company and the United Auto Workers reached a tentative agreement on terms of a new five-year agreement that would cover approximately 1,300 UAW members at the New River Valley, VA, plant.

Further comment about the proposed agreement is being withheld pending ratification by UAW Local #2069. Ratification meetings are being scheduled by the UAW.

The Volvo VN and VHD trucks are assembled in the United States at the New River Valley Plant in Dublin, Virginia, while Volvo engines for North America are assembled in Hagerstown, Maryland. Both plants are certified to ISO14001 environmental and ISO9001 quality standards.

The Volvo Group, which employs more than 90,000 people, has production facilities in 19 countries and sells their products in more than 180 markets. Volvo Group sales for 2010 amounted to $36.7 billion. The Volvo Group is a publicly-held company headquartered in Gothenburg, Sweden. Volvo Shares are listed on Nasdaq OMX Nordic Exchange and are traded OTC in the U.S.

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