Volvo Continues to Invest in Attracting Young People to the Industry

Regulatory News:

Volvo (STO:VOLVA)(STO:VOLVB)

Volvo Group’s three-year initiative, the Volvo Step, will continue and become part of the business operations. A new round of vocational training will commence in autumn at 11 of Volvo Group’s facilities, offering 100 participants a paid, one-year training course in industrial production.

When the third round of Volvo Step participants graduate at the end of October, a total of 1,200 young people will have completed the training course and acquired skills for a future in this industrial sector. Due to the positive response to the Volvo Step, Volvo Group has decided to continue the training course on an annual basis indefinitely. As a result, 100 new participants will be welcomed to 11 production facilities across Sweden this autumn.

"Securing competence for the company is important and requires a long-term approach. The Volvo Step program helps us reach out to young people and arouse their interest in working in the industry, while making a positive contribution to youth employment,” says Kerstin Renard, Executive Vice President Corporate Human Resources at Volvo Group, and adds:

"We see this program as a means of ensuring that more young people acquire the skills and experience needed for working in production here at Volvo or in other industrial companies.”

The Volvo Step program was launched in autumn 2012 and aimed to provide theoretical and practical training to 400 young unemployed people per year. The training course was very well received – more than 8,000 applications were received, and 96% of the participants claim they are satisfied with the course.

"We are very happy and proud that so many have wanted to take part in the Volvo Step. These young people bring new enthusiasm and energy to our workplaces, which is appreciated by our employees,” says Kerstin Renard.

Statistics from the Public Employment Service show that more than seven of ten former participants are no longer registered as unemployed. In a recent survey conducted by Volvo Group, 59% of the respondents say they are now working in the industrial sector. About 10% decided to continue studying, in such fields as production development, welding technology or engineering. At the end of their one-year training course, participants receive a certificate showing their qualifications. The Volvo Step does not guarantee a job with Volvo Group, but the training course provides a solid foundation for a future career in the manufacturing industry. The application period for the next Volvo Step program is August 3-31, 2015 via www.volvosteget.se. The training course will commence in the first week of November 2015. The Volvo Step entails temporary employment with Volvo Group for one year with a salary determined by collective agreement. Applicants must be aged between 18 and 22, have completed secondary school and be registered as unemployed with the Public Employment Service.

For more information, visit www.volvosteget.se. The Volvo Step is also on Facebook, Twitter and Instagram.

June 1, 2015

For more stories from the Volvo Group, please visit http://www.volvogroup.com/globalnews.

The Volvo Group is 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. The Volvo Group, which employs about 100,000 people, has production facilities in 19 countries and sells its products in more than 190 markets. In 2014 the Volvo Group’s sale amounted to about SEK 283 billion (EUR 31 billion). The Volvo Group is a publicly-held company headquartered in Göteborg, Sweden. Volvo shares are listed on Nasdaq Stockholm. For more information, please visit www.volvogroup.com or www.volvogroup.mobi if you are using your mobile phone.

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