Autoliv Expands in China Constructs new seatbelt plant
(Stockholm, April 1, 2011) --- Autoliv Inc. (NYSE: ALV and SSE: ALIV) – the worldwide leader in automotive safety systems – has started construction of a new factory building in Nanjing that will replace the Company’s existing plant in the city. The first construction phase of the new plant is approximately 50% larger than the existing Nanjing facility. The cost for the new facility, including the site of 66,000 square meters, should be about $10 million.
Currently, Autoliv has 800 employees in Nanjing, which will be increased by 200 when the expansion has been completed. The plant produces seatbelts for many of the major vehicle companies in China, such as Shanghai Volkswagen Automotive Co., Shanghai General Motors Corp., Dongfeng Peugeot Citroen Automotive Co., Chery Automobile Co., Geely Automobile Co., SAIC Motor Passenger Vehicles Co.
Recently, Autoliv announced two other expansions of its Chinese manufacturing capacity. In December, the Company announced that it is expanding its manufacturing capacity in China for electronics by 50%, and last week Autoliv announced that it will increase its manufacturing capacity in Northern China by 25%.
Autoliv has ten facilities in China, including a technical center with a crash tests facility for complete vehicles. The Company has 5,500 employees in China. The Chinese market accounted, in 2010, for 11% of the Company’s sales, an increase from 4% three years ago.
Last year, light vehicle production in China grew by 29%. Autoliv’s sales grew by more than 60%.
Jan Carlson, President & CEO, Autoliv Inc. Tel. +46-8-587 20 600
George Chang, President Autoliv China. Tel. +86-21-6992-8888
Autoliv Inc., the worldwide leader in automotive safety systems, develops and manufactures automotive safety systems for all major automotive manufacturers in the world. Together with its joint ventures, Autoliv has 80 facilities with more than 43,000 employees in 28 vehicle-producing countries. In addition, the Company has technical centers in eleven countries around the world, with 21 test tracks, more than any other automotive safety supplier. Sales in 2010 grew to by 40% to nearly US $7.2 billion. The Company's shares are listed on the New York Stock Exchange (NYSE: ALV) and its Swedish Depository Receipts on the OMX Nordic Exchange in Stockholm (ALIV sdb). For more information about Autoliv, please visit our company website at www.autoliv.com.
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