Autoliv Strengthens Position in Airbag Inflators
Autoliv Strengthens Position in Airbag Inflators Autoliv Inc. (NYSE: ALV and SSE: ALIV), a worldwide leader in automotive safety systems, has exercised its option to increase the company's holding from 51% to 66% in the French airbag inflator company Livbag. At the same time, an agreement was reached with Livbag's minority owner SNPE that gives Autoliv the right to acquire - and SNPE the right to sell - the remaining Livbag shares in two steps by the years 2001 and 2003. In tandem with this agreement, a supply and a cooperation contract has been signed for airbag propellants from SNPE to Livbag and Autoliv. With Euro 230 million (approx. $300 million) in sales to Autoliv and external customers, Livbag is one of the world's leading manufacturers of inflators for airbags and micro gas generators for seat belt pretensioners. Livbag includes the wholly-owned subsidiary NCS, a leading producer of airbag initiators (which ignite the propellant in an airbag inflator). This acquisition makes it easier to carry through our global standardization program for airbag inflators, explained Autoliv's Chairman Gunnar Bark. Although our European inflator production is sizeable, our U.S. inflator manufactur-ing is even more significant. With the strengthening of Autoliv's position in Livbag, a more efficient coordination of R&D, purchasing and manufacturing between our U.S. and European inflator segments can be achieved, concludes Gunnar Bark. Autoliv Inc. develops and manufactures automotive safety systems for all major automotive manufacturers in the world. The company has 60 wholly-owned subsidiaries and joint ventures with more than 20,000 employees in 28 vehicle-producing countries. In addition, the company has eight technical centers around the world, including 19 test tracks, more than any other automotive safety supplier. Sales in 1998 amounted to close to US $3.5 billion and net income to US $188 million. The company's shares are listed on the New York Stock Exchange (NYSE: ALV), its Swedish Depositary Receipts on the Stockholm Stock Exchange (SSE: ALIV) and its stock options on the Chicago Board Options Exchange (CBOE: ALV.) Inquiries: Gunnar Bark, Chairman, Tel +46(8) 58 72 06 60 Mats Ödman, Dir. Corp. Com., Tel. +46(8)58 72 06 23, or mob. +46 (708) 32 09 33 Barry Murphy, Director Investor Relations, Tel. +1 (248) 475-0409 Website: www.autoliv.com Autoliv Inc. Autoliv North America, Inc. Klarabergsviadukten 70, Sec. C 1320 Pacific Drive P. O. Box 703 81, SE-107 24 Auburn Hills, MI 48326-1569, USA Stockholm, Sweden Tel +46 (8) 58 72 06 23, Fax +46 Tel +1 (248) 475-0409, Fax +1 (248) 475-9831 (8) 24 44 79 e-mail: mats.odman@autoliv.com e-mail: barry_murphy@autolivasp.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/02/22/19990222BIT00280/bit0001.doc http://www.bit.se/bitonline/1999/02/22/19990222BIT00280/bit0002.pdf