Truck maker Volvo on Friday was reported to have said it would sell its service company Celero Support to Coor Service Management making a capital gain of around 450 million Swedish crowns ($US57.6 million).

According to Reuters, Celero provides Volvo with various office and workplace services as well as maintenance of industrial plants and properties.

Volvo is selling Celero, which has 1,100 employees and had sales of 1.4 billion crowns in 2004, for 680 million crowns minus net debt of around 130 million crowns, the report said.