Volvo 2015 Annual Report Download - page 80

THE FIRST QUARTER THE SECOND QUARTER
Completion of the acquisition of 45% of Dongfeng
Commercial Vehicles
On January 5, 2015 AB Volvo announced that it had completed
the acquisition of 45% of the Chinese truck manufacturer Dong-
feng Commercial Vehicles Co., Ltd (DFCV). The purchase consid-
eration amounted to RMB 5.5 billion. DFCV includes most of
Dongfeng’s operations in heavy- and medium-duty commercial
vehicles. The transaction strengthens the Volvo Group’s position
in China while the Group will become one of the world’s largest
manufacturers of both medium- and heavy-duty trucks.
Volvo sold holding in the listed Indian company
Eicher Motors Limited
On March 4, 2015 the Volvo Group announced that it had sold
1,270,000 shares in the listed Indian automotive manufacturer,
Eicher Motors Limited, for an amount totaling approximately SEK
2.5 billion. The sale generated a capital gain of SEK 2,471 M,
which impacted operating income in the Trucks segment in the
first quarter of 2015. The divestment of shares has no effect on
ownership or the development of the longstanding joint venture,
VE Commercial Vehicles.
Annual General Meeting of AB Volvo
The Annual General Meeting of AB Volvo held on April 1, 2015,
approved the Board of Directors’ motions that a dividend of SEK
3.00 per share be paid to the company’s shareholders.
05/01/2015 Volvo completes the acquisition of 45% of Dongfeng Commer-
cial Vehicles 22/01/2015 Invitation to press and analyst conference in Stock-
holm 30/01/2015 New number of votes in AB Volvo 05/02/2015 Volvo
Group – the fourth quarter 2014 16/02/2015 Volvo scholarship for research
on why we travel the way we do 19/02/2015 Truck deliveries in January 2015
25/02/2015 Martina Merz and Eckhard Cordes proposed as new Board mem-
bers of AB Volvo 26/02/2015 Annual General Meeting of AB Volvo
04/03/2015 Volvo sells holding in the listed Indian company Eicher Motors
Limited 11/03/2015 AB Volvo publishes 2014 Annual Report 19/03/2015
Truck deliveries in February 2015 21/03/2015 Volvo to train service techni-
cians in Zambia 25/03/2015 AB Volvo publishes its sustainability report for
2014 31/03/2015 New number of votes in AB Volvo
01/04/2015 Technology award for dual clutch for trucks 01/04/2015
Annual General Meeting of AB Volvo 22/04/2015 Volvo Group – the first
quarter 2015 22/04/2015 New date for press and analyst conference cover-
ing the report for the first quarter 2015 22/04/2015 Martin Lundstedt
appointed President and CEO of the Volvo Group 29/04/2015 Young cancer
researcher receives Assar Gabrielsson award for research into antioxidants
29/04/2015 Annual Report of Volvo Treasury AB (publ) 11/05/2015 Press
conference and emission-free bus trip 21/05/2015 Truck deliveries in April
2015 01/06/2015 Volvo continues to invest in attracting young people to the
industry 04/06/2015 Volvo sells remaining holding in the listed Indian com-
pany Eicher Motors Limited 15/06/2015 Electric bus route 55 launched in
Gothenburg 18/06/2015 Truck deliveries in May 2015 30/06/2015 New
number of votes in AB Volvo 30/06/2015 Volvo Group Celebrates Inaugura-
tion of New Central Distribution Center in Mississippi, USA
VOLVO GROUP PRESS RELEASES 2015
GROUP PERFORMANCE BOARD OF DIRECTORS’ REPORT 2015
SIGNIFICANT EVENTS PUBLISHED IN
QUARTERLY REPORTS
DURING
2015
2015 was characterized by mixed market conditions, continued internal measures
to increase efficiency and reduce costs as well as acquisitions and divestments.
45%
OWNERSHIP
IN DFCV
Matti Alahuhta, James W. Griffith, Kathryn V. Marinello, Hanne
de Mora, Anders Nyrén, Carl-Henric Svanberg, Olof Persson and
Lars Westerberg were reelected as members of the Board. Mar-
tina Merz and Eckhard Cordes were elected as new members of
the Board. Carl-Henric Svanberg was reelected as Chairman of
the Board.
A remuneration policy for senior executives was adopted in
accordance with the Board of Directors’ motion.
Volvo sold remaining holding in Eicher Motors Limited
On June 4, 2015 the Volvo Group sold its remaining holding in the
listed Indian automotive manufacturer, Eicher Motors Limited. The
sale corresponded to 1,005,610 shares with a total value of
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