AB Volvo is postponing the AGM due to uncertainty about the effects of the corona virus

STOCKHOLM, March 25 (Reuters). Truckmaker AB Volvo announced on Wednesday that it has decided to postpone its AGM because the effects of the global coronavirus outbreak are uncertain.

“The latest developments have a direct impact on the economies that are important to the Volvo Group. The current situation will lead to weaker demand for the Group’s products and services,” the company said.

Most of Volvo’s manufacturing facilities are currently closed and employees in several countries have been temporarily laid off.

“We believe that, in the current situation, it is responsible to postpone the AGM to assess how the situation will develop,” said Carl-Henric Svanberg, Volvo CEO. (Reporting by Johannes Hellstrom, editor of Johan Ahlander)

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