STOCKHOLM, Sweden, June 10, 2003 (PRIMEZONE) -- Autoliv Inc., (NYSE:ALV) the worldwide leader in automotive safety systems, has opened a new, larger plant in Malaysia on back of a 25% sales increase last year.
The new facility will also improve operational efficiency by relocating two Autoliv joint ventures into the new building. Currently, Autoliv- Hirotako Safety which manufactures seat belts and Autoliv-Hirotako SRS which manufactures airbags, are operating on separate sites.
The new facility is 14,500 square meters (approx. 160,000 sq. ft) on a 45,500 square meters (0,5 million sq.ft) site. It is located about 25 kilometers south of Kuala Lumpur.
In total, Autoliv and its joint ventures have 400 employees in Malaysia. In addition to seat belts and airbags, the operations manufacture steering wheels and webbing for seat belts. The customers are BMW, DaimlerChrysler, Ford, Honda, Hyundai, Kia, Mitsubishi, Nissan, Perodua, Proton, Suzuki, Toyota and Volvo.
The new plant is an example of Autoliv's strategy to strengthen its presence in Asia, where Autoliv expects to double consolidated sales in three years to one billion dollars by 2005.
Light vehicle production in Malaysia has increased by more than 30% since 2000 to 470,000 last year.
Inquiries:
Lars Westerberg, President &CEO, Autoliv Inc. Tel. +46(8) 58 72 06 00 Gunnar Dahlen, President, Autoliv Asia Pacific. Tel. +66(2) 659 8511
Autoliv Inc. develops and manufactures automotive safety systems for all major automotive manufacturers in the world. Together with its joint ventures Autoliv has 80 facilities with over 30,000 employees in 30 vehicle-producing countries. In addition, the company has technical centers in nine countries around the world, including 20 test tracks, more than any other automotive safety supplier. Sales in 2002 amounted to US $4.4 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)
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
http://www.waymaker.net/bitonline/2003/06/10/20030610BIT00200/wkr0001.doc
http://www.waymaker.net/bitonline/2003/06/10/20030610BIT00200/wkr0002.pdf