STOCKHOLM, July 8, 2002 (PRIMEZONE) -- Autoliv Inc. (NYSE:ALV) - the worldwide leader in automotive safety systems - has received Mitsubishi North America's (MMMA) Top Supplier Award.
Autoliv was one of 22 Mitsubishi suppliers to receive this prestigious award.
Autoliv's business with Mitsubishi North America dates back to the early 1990s, when the company began shipping airbag modules to Mitsubishi's North American manufacturing plant in Normal, IL.
To improve support to MMC business in North America, Autoliv has taken several aggressive actions over the last few years to strengthen support in Japan. Having this support in Japan allows Autoliv to meet Japanese OEM's expectations to develop in Japan products that are used globally. 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 manu facturer in Japan. Last year, Autoliv opened a plant in Japan for airbag inflators. In addition, Autoliv has established a dedicated group to increase sales of safety electronics. Recently Autoliv received two awards from the Japanese car manufacturer Toyota.
"We are delighted and proud of having been selected for this award. Since it is the second award from a Japanese customer in a short time, our long-term investment in Japan and our efforts to build stronger relationship with the Japanese OEMs are starting to generate results", said Mr. Lars Westerberg, Autoliv's President and Chief Executive Officer.
Inquiries:
Lars Westerberg, President and CEO, Autoliv Inc. Tel +46-8-58 72 06 00 Brad Murray, President and CEO, Autoliv Japan, Tel. +81-45-475-3503Dale Cook, Business Director Mitsubishi, Autoliv Inc. Tel +1-801-629-9716
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 technical centres in 9 countries, including 20 test tracks, more than any other automotive safety supplier. Sales in 2001 amounted to US $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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