AB Volvo (MM) (NASDAQ:VOLV)
Historical Stock Chart
From May 2019 to May 2024
Regulatory News:
Volvo Aero has entered into an agreement with aircraft engine
manufacturer Pratt & Whitney to join P&W's Geared Turbofan(TM) engine
program. Under this arrangement, Volvo Aero will be responsible for
three major components for both the Mitsubishi Regional Jet (MRJ) and
the Bombardier CSeries aircraft engines.
The Geared Turbofan engine will be a product unique in the
aircraft industry, bringing double-digit reductions in fuel burn,
environmental emissions, engine noise and operating costs. For Volvo
Aero, the agreement is expected to result in sales of SEK 50 billion
during 40 years, the largest involvement in a commercial engine
program ever.
Two years ago, Volvo Aero and Pratt & Whitney signed an agreement
to demonstrate new technology for the new Geared Turbofan engine.
Since then, Volvo Aero has worked to develop advanced light weight
technologies for the new engine concept. Volvo Aero brings expertise
in turbine exhaust case technology to development of the Geared
Turbofan engine.
According to the agreement, Volvo Aero will participate as a
partner in design, development, production and aftermarket in this
engine project, with overall responsibility for the Intermediate Case
and Turbine Exhaust Case as well as Low Pressure Turbine Shaft
production responsibility.
"We are delighted to have reached this agreement with Pratt &
Whitney, not least because we know that this engine will contribute to
improving the environment by reducing fuel consumption, emissions and
noise," says Olof Persson, President of Volvo Aero. "Participating in
an engine concept that has excellent prospects for enhancing our
current program portfolio in this thrust region of the engine market
is also an important sign of success for Volvo Aero. Last but not
least, we are gratified that the agreement further strengthens our
relations with Pratt & Whitney," he adds.
The Geared Turbofan engine is expected to set new standards in
environmental performance and operating value for the next generation
of commercial aircraft. In a Geared Turbofan engine, a
state-of-the-art gear system allows the engine's fan to operate at a
different speed than the low-pressure compressor and turbine,
resulting in greater fuel efficiency and a slower fan speed for
reduced noise. The Geared Turbofan engine targets more than 12%
reductions in fuel burn and CO2 emissions, a 50% reduction in engine
noise and double-digit reductions in maintenance and operating costs.
"I am pleased to welcome Volvo Aero to the growing list of
partners on the Geared Turbofan engine program," said Todd Kallman,
president, Pratt & Whitney Commercial Engines. "Volvo Aero has played
a key role in the development and demonstration program to date and we
are proud to continue that partnership into the production phase of
the program with this agreement."
This cooperative project with Pratt & Whitney will enable Volvo
Aero to refine its ability to develop products on the basis of proven
Volvo Aero design and manufacturing tools and procedures. In addition,
activities such as this will continue to enhance Volvo Aero's position
as a strong independent partner to original equipment manufacturers of
large turbofan engines.
Images of the Geared Turbofan(TM) Engine can be found under News
images in the image gallery on volvoaero.com. Facts on Geared Turbofan
engine:
The Geared Turbofan engine has already been selected as exclusive
power for the 70-90 passenger Mitsubishi Regional Jet (MRJ) and the
100-149 seat class Bombardier CSeries mainline aircraft, that was
launched in connection with the Farnborough Air Show that opened on
Monday. According to current schedules, both the MRJ and CSeries
aircraft will enter revenue service in 2013. The Geared Turbofan
engine recently completed a 250 hours ground test program and is
scheduled to begin flight testing in mid-July.
Volvo Aero (NASDAQ:VOLV) (STO:VOLVA) (STO:VOLVB) 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.
This information was brought to you by Cision
http://newsroom.cision.com
Regulatory News:
Volvo Aero has entered into an agreement with aircraft engine
manufacturer Pratt & Whitney to join P&W’s
Geared Turbofan™ engine program. Under this
arrangement, Volvo Aero will be responsible for three major components
for both the Mitsubishi Regional Jet (MRJ) and the Bombardier CSeries
aircraft engines.
The Geared Turbofan engine will be a product unique in the aircraft
industry, bringing double-digit reductions in fuel burn, environmental
emissions, engine noise and operating costs. For Volvo Aero, the
agreement is expected to result in sales of SEK 50 billion during 40
years, the largest involvement in a commercial engine program ever.
Two years ago, Volvo Aero and Pratt & Whitney signed an agreement to
demonstrate new technology for the new Geared Turbofan engine. Since
then, Volvo Aero has worked to develop advanced light weight
technologies for the new engine concept. Volvo Aero brings expertise in
turbine exhaust case technology to development of the Geared Turbofan
engine.
According to the agreement, Volvo Aero will participate as a partner in
design, development, production and aftermarket in this engine project,
with overall responsibility for the Intermediate Case and Turbine
Exhaust Case as well as Low Pressure Turbine Shaft production
responsibility.
“We are delighted to have reached this
agreement with Pratt & Whitney, not least because we know that this
engine will contribute to improving the environment by reducing fuel
consumption, emissions and noise,” says Olof
Persson, President of Volvo Aero. “Participating
in an engine concept that has excellent prospects for enhancing our
current program portfolio in this thrust region of the engine market is
also an important sign of success for Volvo Aero. Last but not least, we
are gratified that the agreement further strengthens our relations with
Pratt & Whitney,” he adds.
The Geared Turbofan engine is expected to set new standards in
environmental performance and operating value for the next generation of
commercial aircraft. In a Geared Turbofan engine, a state-of-the-art
gear system allows the engine’s fan to operate
at a different speed than the low-pressure compressor and turbine,
resulting in greater fuel efficiency and a slower fan speed for reduced
noise. The Geared Turbofan engine targets more than 12% reductions in
fuel burn and CO2 emissions, a 50% reduction in engine noise and
double-digit reductions in maintenance and operating costs.
“I am pleased to welcome Volvo Aero to the
growing list of partners on the Geared Turbofan engine program,”
said Todd Kallman, president, Pratt & Whitney Commercial Engines. “Volvo
Aero has played a key role in the development and demonstration program
to date and we are proud to continue that partnership into the
production phase of the program with this agreement.”
This cooperative project with Pratt & Whitney will enable Volvo Aero to
refine its ability to develop products on the basis of proven Volvo Aero
design and manufacturing tools and procedures. In addition, activities
such as this will continue to enhance Volvo Aero’s
position as a strong independent partner to original equipment
manufacturers of large turbofan engines.
Images of the Geared Turbofan™ Engine can be
found under News images in the image gallery on volvoaero.com. Facts on
Geared Turbofan engine:
The Geared Turbofan engine has already been selected as exclusive power
for the 70-90 passenger Mitsubishi Regional Jet (MRJ) and the 100-149
seat class Bombardier CSeries mainline aircraft, that was launched in
connection with the Farnborough Air Show that opened on Monday.
According to current schedules, both the MRJ and CSeries aircraft will
enter revenue service in 2013. The Geared Turbofan engine recently
completed a 250 hours ground test program and is scheduled to begin
flight testing in mid-July.
Volvo Aero (NASDAQ:VOLV) (STO:VOLVA) (STO:VOLVB) 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.
This information was brought to you by Cision http://newsroom.cision.com