A Further Step in Autoliv's Expansion in Asia - investment of $10 million in Japan (Stockholm, January 22, 2010) --- Autoliv Japan Ltd, a wholly owned subsidiary of the worldwide leader in automotive safety Autoliv Inc. (NYSE: ALV and SSE: ALIV), is expanding its plant and technical center in Tsukuba, Japan. This expansion comes in addition to the acquisition of the minority stake in Autoliv's Japanese inflator joint venture announced earlier this week. This expansion will accommodate the transfer of automotive seatbelt production and development operations from its leased facility in Fujisawa, Japan. The seatbelt operations will be combined with existing airbag operations to create a consolidated automotive restraints full-service safety center in Tsukuba. The 7,400 square meter addition will bring the facility to a total of nearly 20,000 square meters. The expansion and integration process is expected to be complete by the end of third quarter 2010. “The expansion in Japan demonstrates of our overall, long-term commitment to this very important market and to our customers there,” according to Jan Carlson, CEO & President of Autoliv, Inc. “The consolidation of our main airbag and seatbelt operations in Japan will not only enhance our ability to remain globally competitive, but also further improve the high level of service that our customers in Japan have come to expect from us.” Autoliv's 1,600 employees in Japan operates eight facilities to develop and produce a wide range of automotive safety products and systems; including airbags, seatbelts, steering wheels, and safety electronics. The operations in Japan with also provide support and development services for Autoliv operations around the world dealing with Japan based customers. Approximately 22% of Autoliv's global sales are generated from Japan based customers. Inquiries: Jan Carlson, President and CEO, Autoliv Inc. Tel +46 8-587 20 600 Brad Murray, President Autoliv Japan, Tel +81-45-475-3503 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 36,000 employees in 28 vehicle-producing countries. In addition, the Company has technical centers in eleven countries around the world, with 21 test tracks, more than any other automotive safety supplier. Sales in 2008 amounted to US $6.5 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 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 and various assumptions, and apply only as of the date of this report. Our expectations and beliefs are express¬ed in good faith and we believe there is a reasonable basis for them. How¬ever, there can be no assurance that forward-looking statements will materialize or prove to be correct. Because such state¬ments involve risks and uncer¬tainties, the outcome could differ materially from those set out in the statements. For a summary of such risk factors, please refer to our latest 10-K and 10-Q filed with the SEC. Except for our ongoing obligation to disclose information under law, we under¬take no obligation to update publicly any forward-looking statements whether as a result of new informa¬tion or future events. For any forward-looking statements con¬tained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the PSLRA.
A Further Step in Autoliv's Expansion in Asia - investment of $10 million in Japan
| Source: Autoliv Inc.