Volvo Invests in New and Innovative Technology

    STOCKHOLM, Sweden--Aug. 9, 2001--Volvo Technology Transfer, a wholly-owned subsidiary in the Volvo Group, has made an investment in Wipcore AB, a Swedish company which has created a platform for efficient e-business and information management.
    Wipcore AB, a Gothenburg-based company founded in 1997, has focused on developing its own e-commerce and information management platform, Wipcore(tm). During the last year, despite the dominating market trends, Wipcore AB has landed many new customers and partners.
    "We like our business to be associated with new and innovative technology. Wipcore AB has a strong product that we firmly believe in. The technology is, in fact, already in use within the Volvo corporation: the Volvo Ocean Race merchandise solution is created using Wipcore(tm)," says Anders Brannstrom, President of Volvo Technology Transfer.
    "The investment means that we now have resources for a proper expansion in the Nordic countries and the rest of Europe during the coming two to three years," Staffan Hansson, President of Wipcore AB explained. "Our goal is to establish our product, Wipcore(tm), as the industry standard for its market. We are confident that the cooperation with Volvo Technology Transfer and our other investors will help us achieve that goal."