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New President for the Volvo Truck Corporation

4 January 2001

New President for the Volvo Truck Corporation

    STOCKHOLM, Sweden--Jan. 4, 2001--Jorma Halonen has been appointed President of the Volvo Truck Corporation.
    He succeeds Tryggve Sthen, who took up a new position as President of the Volvo Global Trucks Corporation at the start of this year. Jorma Halonen is currently Senior Vice President Latin American Operations at Scania.
    "With his considerable expertise from several executive positions, his thorough familiarity with the industry and his international experience, Jorma Halonen will be a very strong leader in the continued development of Volvo Trucks into a strongly customer-oriented company with a clear brand profile," comments company President Tryggve Sthen. At the end of December 2000, AB Volvo created a new truck company under the name Volvo Global Trucks Corporation, following on the US Competition Authority's approval of AB Volvo's purchase of Renault V.I./Mack. The Volvo Global Trucks Corporation will produce and market the Volvo, Renault and Mack brands.

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