Gothenburg, Sweden, 05-Apr-2016 — /EuropaWire/ — The Volvo Group has completed the final agreement with HCL Technologies for the sale of its external IT operation and related assets and the outsourcing of its IT infrastructure. As announced earlier the transaction was implemented on March 31, 2016 and will entail both sustained cost savings and a capital gain corresponding to SEK 900 M. The capital gain will have a positive impact, in a corresponding amount, on the Volvo Group’s operating income and net financial debt in the first quarter of 2016.
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The Volvo Group is one of the world’s leading manufacturers of trucks, buses, construction equipment and marine and industrial engines. The Group also provides complete solutions for financing and service. 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 SEK 313 billion (EUR 33.4 billion). The Volvo Group is a publicly-held company headquartered in Göteborg, 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.