GREENSBORO, N.C. — – Volvo Trucks North America has been named 2003 Corporation of the Year by the Carolinas Minority Supplier Development Council (CMSDC).

Volvo Trucks received the award September 10, at the group’s annual awards dinner in Charlotte.

Volvo was honoured for its commitment to increasing supplier diversity, as shown by its establishment of a supplier diversity office and by the fact that Volvo increased its business with minority suppliers by 100 percent in the last year, according to CMSDC.

Steve Humphrey, Volvo supplier diversity manager, was also honored as the group’s 2003 Minority Business Entrepreneur (MBE) Coordinator of the year. Humphrey, a 27-year employee of the company, received his award at the banquet, as well.

"It is an honor to be recognized for our efforts to increase Volvo’s supplier diversity," said Michel Gigou, Volvo president and CEO. "Volvo supports supplier diversity because, firstly, is it the right thing to do, and secondly, it makes good business sense for our community. Our customers also understand how important it is to develop a diverse supplier base."

Volvo Trucks North America assembles its Volvo VN and VHD trucks in the United States, at the New River Valley Plant in Dublin, Virginia.

Volvo Trucks North America is a member of the Volvo Group, a publicly held company headquartered in Gothenburg, Sweden. With 2002 sales of approximately $20 billion, Volvo’s business areas include heavy trucks, buses, construction equipment, marine and industrial drive systems, aerospace, and financial services. In the United States, Volvo shares are listed on NASDAQ and are traded as ADRs (symbol: VOLVY).