Statement Regarding United Auto Workers Strike at NRV Plant

GREENSBORO, N.C., April 17, 2021 /PRNewswire/ --

"We are surprised and disappointed that the UAW decided to strike," said NRV Vice President and General Manager Franky Marchand. "Progress was being made, and we had offered substantial increases in our employees' compensation. We don't understand why the UAW won't allow our employees to continue building trucks while we continue negotiations. We are committed to the collective bargaining process, and look forward to getting back to the table. We are confident that we will be able to arrive at an agreement that provides a competitive wage and benefit package for our employees and families, and helps to ensure the plant's competitiveness, long-term growth and sustainability."

The Volvo Group is the only heavy-duty truck manufacturing group that assembles all of its trucks and engines for the North American market in the United States. The NRV plant employs more than 3,300 people, about 2,900 of whom are UAW members. The plant is in the midst of a $400 million investment for advanced technology upgrades, site expansion and preparation for future products, including the innovative Volvo VNR Electric truck, slated for the serial production launch this spring. The plant has added 1,100 jobs since the current union agreement was implemented in 2016 and is on track to have a net increase of approximately 600 positions in 2021.

Volvo Trucks provides complete transport solutions for professional and demanding customers, offering a full range of medium to heavy duty trucks. Customer support is secured via a global network of dealers with 2,300 service points in more than 130 countries. Volvo trucks are assembled in 13 countries across the globe. In 2020 approximately 94,000 Volvo trucks were delivered worldwide. Volvo Trucks is part of Volvo Group, 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. Volvo Trucks´ work is based on the core values of quality, safety and environmental care.

For further information, please contact John Mies, Volvo Trucks, phone 336-543-9094, email [email protected]

www.volvotrucks.us   www.volvotrucks.ca   www.volvotrucks.mx

SOURCE Volvo Trucks North America