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News of  December 12, 2000

Volvo Truck Corporation To Open Assembly Plant In Moscow

With an initial order for 100 vehicles from a Moscow based company in the construction sector, Volvo Truck Corporation will soon be starting production at its own assembly plant in Russia.

This is the successful outcome of a joint industrial venture with the Russian company JSFC Sistema. The new production facility will be in Zelenograd, a rapidly expanding indust-rial area just outside the Russian capital. The plant is needed to meet the growing demand for modern heavy trucks in Russia. The first trucks to be assembled in the Zelenograd plant should roll off the pro-duction line in the middle of 2001. The plant's capacity will the first year be 200-300 vehicles, with a potential to grow in the future in terms of number of assembled trucks.

With over 6,000 vehicles registered, Volvo is the leading brand in the heavy truck market in Russia today. The sheer scale of fresh investment needed in the transport sector means that the demand for new trucks has barely begun to be tapped. The stock of heavy vehicles currently in use on Russian roads is very dated and badly in need of replacement. The new assembly plant marks the beginning of a new era in Volvo Truck Corporation's commitment to the Russian market. Volvo does, however, already have in place twenty service centres, strategically located on major transport arteries.

"With an industrial base in Moscow we are strengthening our position there. It is important to be an early starter in the race, for sound growth as the market grows," says Tom Jörning, Area Director for Eastern Europe at Volvo Trucks.

(Dec. 8, 2000)

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