Autoliv Acquires a Majority Stake in Chinese Seatbelt Maker

(Stockholm, October 19, 2010) --- Autoliv, Inc. (NYSE: ALV), the worldwide leader in automotive safety, has acquired Delphi’s 51% share in the Chinese seatbelt maker Beijing Delphi Automotive Safety Products (BDS). BDS is a joint venture between Delphi and the Chinese company BHAP. 

The joint venture started in 2008 and is specialized in seatbelt production. The main customers include Dongfeng Yueda Kia Motor Co. (DYKMC) and Beijing Hyundai Motor Co. (BHMC). The operations are expected to generate approximately $30 million of annualized sales in 2010 and employ approximately 240 people.

“This investment strengthens Autoliv’s competitive edge and our commitment to the Chinese automotive industry” stated Jan Carlson, President and CEO of Autoliv Inc.   

Including the latest acquisition Autoliv now has ten manufacturing facilities in China and is China’s leading automotive safety system supplier, both to global vehicle manufacturers in the country and to domestic Chinese vehicle manufacturers. Recently, Autoliv opened a new airbag cushion facility and technical center with the capacity to perform full crash tests of complete vehicles.

Last year, Autoliv’s sales in China grew by 67% and are this year expected to grow by 50% to exceed $700 million. Chinese light vehicle production is expected to grow by 20%.

The transaction was completed in the third quarter.

Inquiries:
Jan Carlson, President and CEO, Autoliv Inc., Tel +46 8 587 20 600

Georg Chang, President Autoliv China, Tel + +86 21 6992 8888

About Autoliv

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 approximately 41,000 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 are expected to grow to by nearly 35% to US $6.9 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.

 

Safe Harbor Statement

This release contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (PSLRA). All such statements are based upon our current expectations and various assumptions, and apply only as of the date of this report. Our expectations and beliefs are express­ed in good faith and we believe there is a reasonable basis for them. How­ever, there can be no assurance that forward-looking statements will materialize or prove to be correct. Because these forward-looking statements involve risks and uncertainties, the outcome could differ materially from those set out in the forward-looking statements for a variety of reasons, including without limitation, changes in general industry and market conditions, increased competition, changes in consumer preferences for end products, customer losses and changes in regulatory conditions, customer bankruptcies, consolidations or restructuring, divestiture of customer brands, the economic outlook for the Company’s markets, fluctuation in vehicle production schedules for which the Company is a supplier, continued uncertainty in program awards and performance, pricing negotiations with customers, product liability, warranty and recall claims and other litigations, possible adverse results of pending or future litigation or infringement claims, legislative or regulatory changes, dependence on customers and suppliers, as well the risks identified in Item 1A “Risk Factors” in this report and the risk factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2008.  Except for the Company’s ongoing obligation to disclose information under the U.S. federal securities laws, the Company undertakes no obligation to update publicly any forward-looking statements whether as a result of new information or future events. For any forward-looking statements con­tained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the PSLRA.

 

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