Press releases 2009

6/14/2009 Unique carbon-fiber engine component contributes to lower fuel consumption

Volvo Aero has developed and manufactured a fan frame for an aircraft engine that is based on advanced load-carrying parts made of both composites and titanium.

6/9/2009 Volvo Aero issues layoff notices to 160 white collar employees in Trollhättan

Volvo Aero has issued notices of termination of employment to 160 white collar employees in Trollhättan.

6/4/2009 The Swedish government invests in Ariane

The Swedish government has decided to continue to participate in the European launch-vehicle program. This means that Volvo Aero’s space operations in Trollhättan can continue to participate in all ongoing Ariane and technology programs.

5/11/2009 Volvo Aero Services becomes official distribution center for Embraer

The Brazilian aircraft manufacturer Embraer has established a four-year partnership with Volvo Aero Services, naming the company as an official distribution center for Embraer Original Equipment Manufacturer (OEM) aircraft parts. Based in Boca Raton, Florida, Volvo Aero Services will promote and sell spare parts as an Embraer outlet.

4/24/2009 Reduced volumes and lower profit

During the first quarter, Volvo Aero's net sales increased by 9% to SEK 2,030 M (1,870), mainly due to a higher US dollar rate. Adjusted for currency fluctuations, net sales decreased by 12%. Operating income was SEK 83 M (136) and the operating margin 4.1% (7.3).

4/21/2009 GE Aviation appoints Volvo Aero Services as a preferred distributor of engine parts

Volvo Aero Services and GE Aviation have signed a five year agreement for distribution of certain low volume new and used parts for CF34, CFM56, and CF6 engines. Volvo Aero Services will provide asset management services, which includes forecasting, planning, marketing, warehouse and distribution elements. The focus on certain low volume material will complement GE Aviation's existing new and used high volume parts distribution network.

4/15/2009 Layoff notices given to 220 Volvo Aero employees

The statutory trade-union discussions regarding notices of termination of employment for 250 Volvo Aero personnel concluded in agreement. The outcome of the discussions is that 220 employees will be given notice today. In addition to this, there are 29 other planned departures during the year.

4/6/2009 Gas pipeline construction in China good for Volvo Aero

General Electric won a major order for its LM2500 gas turbine from China. A number of gas turbines will be used in one of the world’s largest gas pipeline projects, the “West-to-East Gas Pipeline,” which will be approximately 8,700 kilometers long. Volvo Aero is part owner of the LM2500 and manufactures components for the gas turbine, which means that this major Chinese infrastructure investment will also result in jobs in Trollhättan.

4/3/2009 Volvo Aero Services signs agreement with SR Technics to manage redistribution of material

Volvo Aero Services has signed an exclusive three year partnership agreement with SR Technics to provide redistribution services.

2/6/2009 Increased sales but lower profit

During the fourth quarter, Volvo Aero’s net sales increased by 12% to SEK 2,239 M (1,992), mainly due to a higher US dollar rate. Adjusted for currency fluctuations net sales increased by 2%. Operating income was SEK 141 M (196) and the operating margin 6.3% (9.8).

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