The Swedish government has decided that Sweden will continue to participate in the European launch-vehicle program. This means that Volvo Aero’s (STO:VOLVA)(STO:VOLVB) space operations in Trollhaettan will be saved and can continue to advance.
“The government’s proposal is very positive. This means that we will maintain our leading position in nozzles and turbines for space rockets,” says Staffan Zackrisson, President of Volvo Aero. Since 2008, the threat has lingered heavily over Volvo Aero’s space operations, with its approximately 150 employees. The government is now proposing continued financing for the European launch-vehicle program. This means that Volvo Aero can remain a supplier of turbines and nozzles to the European Space Agency’s (ESA) research and development program for launch vehicles and manufacturing of these components for serial production.
During the autumn, two important demonstration tests can now be carried out that will enable significant improvements of the rocket engine.
“We are currently looking forward to discussions with the Swedish National Space Board and ESA regarding how the Swedish investment can best be utilized on Sweden’s behalf,” says Staffan Zackrisson.
At a meeting of ministers in The Hague in November, Sweden directed sharp criticism against ESA’s management of the Ariane space program. The criticism concerned cost efficiency and political transparency.
“We hope that the government’s criticism will lead to improvements and we believe that Volvo Aero can contribute to the political process,” says Staffan Zackrisson.
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. Please visit www.volvoaero.com for more information about Volvo Aero.
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Contact:
Volvo Aero
Ulf Palmnäs, Deputy Vice President Business Development
+46 (0)520-937 23, +46 (0)705 690 432
