STOCKHOLM, Sweden, April 15, 2002 (PRIMEZONE) -- Autoliv Inc. (NYSE:ALV) - the worldwide leader in automotive safety systems - has received Toyota's Excellent Award for Quality Performance as well as Toyota's Excellent Value Improvement for parts supplied in Japan.
Autoliv was the only restraint system supplier among 22 other Toyota suppliers to receive these prestigious awards.
Autoliv's business with Toyota in Japan dates back to the 1980's when the company began shipping inflators to the vehicle manufacturer's plants in Japan and North America. Seat belt sales started in the 1990ies to several Toyota's plants. At the same time, sales began of airbag modules to Toyota's plants in Japan and North America and have now expanded to worldwide locations. Autoliv became an early adopter of the revolutionary Toyota Production System.
Over the last few years, Autoliv have taken several aggressive actions to increase its business with Toyota and the other Japanese vehicle manufacturers. In 1998, Autoliv started local assembly of airbags in Japan. In 1999, a technical center was opened with a full-scale crash test lab in Tsukuba, North of Tokyo. In 2000, Autoliv acquired Japan's second largest steering wheel manufacturer and 40% of the second largest seat belt manufacturer in Japan. Last year, Autoliv open a plant in Japan for airbag inflators. In addition, Autoliv has established a dedicated group for safety electronics.
"We are delighted and proud of having been selected for these awards," said Mr. Lars Westerberg, Autoliv's President and Chief Executive Officer.
"In addition to our excellent quality, we think the awards are in recognition of all the efforts we have made lately to increase our support to them also in Toyota's domestic market with local production in and development resources. This is in line with our strategy to have production and tech centers near all our major customers," explained Mr. Westerberg.
Autoliv Inc. develops and manufactures automotive safety systems for all major automotive manufacturers in the world. Together with its joint ventures Autoliv has close to 80 facilities with some 32,000 employees in more than 30 vehicle-producing countries. In addition, the company has nine technical centers around the world, including 20 test tracks, more than any other automotive safety supplier. Sales in 2001 amounted to U.S. $4 billion. The Company's shares are listed on the New York Stock Exchange (NYSE:ALV) and its Swedish Depository Receipts on the OM Stockholm Stock Exchange (SSE:ALIV).
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