Volvo Trucks North America and UAW Agree on Five-Year Contract

Volvo Trucks North America today announced that employees represented by the United Auto Workers have ratified a new five-year agreement covering about 2,000 members of UAW Local #2069 at the New River Valley, VA, plant. The new contract is effective March 17, 2016, and will expire on March 16, 2021.

“Our positive working relationship with the UAW was in evidence throughout negotiations, and helped us reach an agreement that ensures the plant’s competitiveness, while continuing to offer our employees a great quality of life,” said Franky Marchand, NRV vice president and general manager.

“NRV builds every truck we sell in North America,” said Göran Nyberg, president of Volvo Trucks North America, “and this agreement gives us the stability we need to keep building on the momentum we established during our record 2015.”

Volvo Trucks provides complete transport solutions for professional and demanding customers, offering a full range of medium to heavy duty trucks. Customer support is secured via a global network of 2,200 dealers and workshops in more than 125 countries. Volvo trucks are assembled in 15 countries across the globe. In 2015 more than 113,000 Volvo trucks were delivered worldwide. Volvo Trucks is part of the Volvo Group, one of the world's leading manufacturers of trucks, buses and construction equipment, and drive systems for marine and industrial applications. The Group also provides solutions for financing and service. Volvo's work is based on the core values quality, safety and environmental care.

The Volvo Group, which employs about 100,000 people, has production facilities in 18 countries and sells its products in more than 190 markets. In 2015, the Volvo Group's sales amounted to about $37 billion. The Volvo Group is a publicly-held company headquartered in Gothenburg, Sweden. Volvo shares are listed on Nasdaq Stockholm. For more information, please visit www.volvogroup.com or www.volvogroup.mobi if you are using your mobile phone.