Autoliv Starts New Operations in China
(Stockholm, June 10, 2010) – – – Autoliv, Inc. – the global leader in automotive safety systems – has started an in-house textile cushions operation in its airbag module facility in Jiading, Shanghai.
“We needed to secure reliable supply to support our business in the booming Chinese market”, explained the Autoliv CEO Jan Carlson and added:
“By making a significant portion of textile cushions in our own plant and not relying on external suppliers, we will take even more advantage of the favourable cost structure in China to remain cost competitive in this important market”.
The new operations will have capacity to produce 4.5 million airbag cushions, when fully utilized, and 450 employees. The floor space is 3,000 square meters.
Autoliv has nine plants in China and is the leading automotive safety system supplier in China, both to the global vehicle manufacturers in the country and to the domestic Chinese vehicle manufacturers. Recently, Autoliv opened a test facility that can crash test complete cars to support its customers in China.
Last year, Autoliv’s sales in China grew 67% and are this year expected to grow by 50% to exceed US $700 million. Chinese light vehicle production is expected to grow by 20%.
Inquiries:
Jan Carlson, President and CEO, Autoliv Inc. Tel +46-8-587 20 600
George 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 40,000 employees in 29 countries. In addition, the Company has ten technical centers in nine countries around the world, with 21 test tracks, more than any other automotive safety supplier. Sales in 2010 are expected to amount to US $6.6 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 press 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, various assumptions, and data available from third parties and apply only as of the date of this report. Our expectations and assumptions 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 as these assumptions are inherently subject to risks and uncertainties such as without limitation, changes in general industry and market conditions, increased competition, changes in consumer preferences for end products, customer losses, bankruptcies, consolidations or restructuring, divestiture of customer brands, fluctuation in vehicle production schedules for which the Company is a supplier, continued uncertainty in program awards and performance, costs or difficulties related to the integration of any new or acquired businesses or technologies, 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 our Annual Report on Form 10-K for the year ended December 31, 2009. 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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