The award was created 1998 to acknowledge outstanding contributions by suppliers. Other categories for the award include quality, cost competitiveness, technology, environmental and social responsibility.

The award for the company comes after the completion of several projects to reduce cycle times and boost both productivity and profitability. In 2014, seven of these for Volvo were identified and documented. They not only improved quality and reduced downtime, but extended tool life to deliver a 39.8 percent saving in tooling costs.

Receiving the award on behalf of the company were John Häger, Managing Director of Sandvik Coromant Sverige AB, and Jan Rasmussen, the Senior Strategic Account Manager in charge of Volvo Cars.