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Volvo to Divest External IT Business; Outsource IT Infrastructure Operations to HCL Technologies

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The Volvo Group (OTC: VOLVY) intends to divest its external IT business and to
outsource IT infrastructure operations to HCL Technologies. The
transaction is to be closed during the second quarter of 2016 and will
provide both cost savings and a capital gain.

"I am convinced that this will benefit personnel, suppliers and
customers", says Jan Gurander, Volvo's CFO and Acting President and CEO.

In conjunction with the closing, the Volvo Group's operating income and
net financial debt are expected to be positively impacted by an amount
of approximately SEK 900 M.

In April, the Volvo Group announced its

See full press release

 

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