Volvo 2004 Annual Report Download - page 107
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105
Dec 31, 2003 Dec 31, 2004
AB Volvo’s holding of shares and Registration Percentage Carrying value, Carrying value,
participations in Group companies (cont.) number holding SEK M SEK M
VNA Holding Inc, USA –100 3,510 3,510
Volvo Trucks North America, Inc, USA – 100 – –
Arrow Truck Sales, Inc, USA – 100 – –
Volvo Construction Equipment North America Inc., USA – 100 – –
Volvo Penta of The Americas, Inc, USA – 100 – –
Volvo Aero North America Inc, USA – 100 – –
Volvo Aero Services LP, USA – 95 – –
Volvo Treasury North America Inc, USA – 100 – –
Volvo Commercial Finance LLC The Americas, USA – 100 – –
Volvo Holding Sverige AB, Sweden 556539-9853 100 7,634 7,634
Volvo Holding France SA, France – 100 – –
VFS Finance France, SA, France – 100 – –
Volvo Polska Sp. O.O., Poland – 100 – –
Volvo do Brasil, Veiculos Ltda, Brasil – 100 – –
Banco Volvo (Brasil) SA – 100 – –
Comercio e Participacao Volvo Ltda, Brasil – 100 – –
Volvo Treasury AB, Sweden 556135-4449 100 3,044 3,044
Sotrof AB, Sweden 556519-4494 100 1,988 1,388
Danafjord AB, Sweden 556006-8313 100 – –
Volvo Group Finance Europe BV, The Netherlands – 100 1,003 1,003
Volvo Construction Equipment Korea Co Ltd, South Korea – 100 – –
Volvo Financial Services AB, Sweden 556000-5406 100 886 1,231
Kommersiella Fordon Europa AB, Sweden 556049-3388 100 855 245
Volvo China Investment Co Ltd, China – 100 622 523
Volvo Truck & Bus Ltd, Great Britain 1–100 413 413
Volvo Holding Mexico, Mexico – 100 388 388
Volvo Technology Transfer AB, Sweden 556542-4370 100 361 361
Volvo Powertrain AB, Sweden 556000-0753 100 348 348
Volvo Parts AB, Sweden 556365-9746 100 200 200
Volvo Group Insurance Försäkrings AB, Sweden 516401-8037 100 182 182
Volvo Business Services, Sweden 556029-5197 100 107 107
Volvo Danmark Holding AS, Denmark – 100 104 104
Volvo Italia Spa, Italy – 100 0 0
VFS Servizi Financiari Spa, Italy 3–100 – 101
Volvo Norge AS, Norway – 100 56 56
Volvo Malaysia Sdn, Malaysia – 100 48 48
Celero Support AB, Sweden 556039-1798 100 25 25
Rossareds Fastighets AB, Sweden 556009-1190 100 26 26
Volvo Penta UK Ltd, Great Britain 100 26 16
ZAO Volvo Vostok, Russia – 100 0 0
Volvo East Asia (Pte) Ltd, Singapore 100 9 9
Volvo Information Technology AB, Sweden 556103-2698 100 8 8
Other holdings 94 13
Total carrying value Group companies 441,329 40,393
1Total holding by Volvo Global Trucks and AB Volvo is 100%.
2Joint ventures, reported in accordance with the proportionate consolidation method in Volvo’s consolidated accounts.
3Total holdings by Volvo Italia and AB Volvo is 100%.
4AB Volvo’s share of shareholders’ equity in subsidiaries (including equity in untaxed reserves) was 55,831 (51,395).