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Volvo concerned at EU spares plans

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11:50 CET+01:00
Sales of new cars in Sweden increased by 1.2 per cent to just over 264,000 last year. Volvo Cars was one of the winners and further strengthened its leading position. However, MD Hans-Olov Olsson is concerned about EU plans to ditch the car industry's patent protection for spare parts.

"The proposal will result in lost income to the tune of 18 billion kronor a year for the car industry in Europe," warned Olsson in a letter to minister for industry and trade Thomas Östros. He asked the government to reject the proposal.

SCA warns

Forestry company SCA had a bad 2004. Chairman Sverker Martin-Löf blames low interest rates, which have led to the company expanding too hastily. Martin-Löf explained that SCA has suffered particularly on the paperboard and soft tissue markets.

"The past 3 years have been very hard for SCA with a drop in prices, tough competition and a lot of restructuring work," said Martin-Löf. SCA's result before tax for the third quarter dropped by 9 per cent to 1,377 million kronor.

Telia Sonera prosecutions

Six former and current employees of Telia Sonera are being prosecuted in Finland for their involvement in tracing calls. The prosecution relates to Sonera's management tracing calls and e-mails between employees and board members at the end of the 1990s. The management suspected that the employees concerned were leaking information to two journalists at the national newspaper Helsingin Sanomat.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri

Supplied by BECK TRANSLATIONS.

With an experienced team of in-house translators, Beck specialises in translating from Swedish into English in such areas as finance and economics, marketing and advertising, biotechnology, the environment, quality, and personnel & administration.

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