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Iraq oil denial

PLANT BUSINESS

Volvo Construction Equipment has denied reports that two employees were sacked as a result of their part in the Iraqi oil for food deals, which are being investigated by the United Nations. The firm said that the two employees either retired or left of their own accord. A spokesman said: 'The fact that no one has been dismissed does not mean that Volvo is not taking the matter seriously.

A redoubled effort has been made to communicate the company's code of conduct.'