New President named at Volvo Aero Norway

New President named at Volvo Aero Norway 

Odd Tore Kurverud has been appointed the new President of Volvo Aero Norway in
Kongsberg. He succeeds Reidar Lyse, who has been President since 2003 and is now
leaving his position for health reasons. 



Odd Tore Kurverud (51), who joined Volvo Aero Norway (VAN) in 1995, has served
as Vice President responsible for personnel and since 2003 as Vice President
Marketing.  He is now taking over management of the company with immediate
effect.

“I am really pleased that we could find a highly competent replacement for
Reidar Lyse within Volvo Aero Norway,” commented Volvo Aero's President, Olof
Persson, on the change in President in Kongsberg. 

“At the same time, I wish to extend thanks and appreciation to Reidar Lyse for
the excellent efforts during his years leading the company. It is also highly
comforting to know that Reidar remains at hand to support management,” adds Olof
Persson. 

“This is a very exciting challenge,” says Odd Tore Kurverud. 

Volvo Aero Norway manufactures components supplied to the world's largest
aircraft engine companies. The company is 78% owned by Volvo Aero and 22% by
United Technologies (Pratt & Whitney). Volvo Aero Norway has annual sales of
about NOK 1 billion, with 600 employees. 

March 31, 2008

For further information, contact Willy Holdahl, Vice President, HR &
Organizational Development, Volvo Aero Norway, + 47 92842663.  


Volvo Aero develops and manufactures components for aircraft and rocket engines
with a high technology content in cooperation with the world's leading
producers. Volvo Aero offers an extensive range of services, including sales of
spare parts for aircraft engines and aircraft, sales and leasing of aircraft
engines and aircraft, as well as overhaul and repair of aircraft engines. Volvo
Aero is part of the Volvo Group, one of the world's leading manufacturers of
trucks, buses and construction equipment, drive systems for marine and
industrial applications, aerospace components and services. The Group also
provides complete solutions for financing and service.