Renault Trucks Defense finalizes acquisition of French Panhard

Renault Trucks Defense, which is included in the Volvo Group’s Governmental
Sales business area, has finalized the acquisition of the French automotive
manufacturer Panhard. The total purchase consideration is SEK 538 M. The
transaction was concluded following approval from the appropriate authorities.
Panhard is a private company that traces its roots to the passenger-car
industry. The company specializes in the manufacture of small armored vehicles
adapted for defense operations. In 2011, Panhard had sales of EUR 81 M,
resulting in operating profit of EUR 9.4 M. The company has approximately 300
employees.

The transaction has no significant impact on the Volvo Group’s earnings or
financial position.

October 25, 2012

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