Autoliv Earnings Rise On Air Bag Volume and Cost Cuts

October 18, 2002

STOCKHOLM Robin Saponar writing for Bloomberg News repoted that, Autoliv Inc.'s third-quarter earnings per share rose 35 percent as the world's largest maker of airbags benefited from cost cuts and increasing sales.

Earnings per share rose to 42 cents, Autoliv said in a statement on Waymaker. Sales climbed 17 percent to $1.1 billion.

The Swedish-American auto-parts maker and rivals such as TRW Inc. have eliminated jobs to cut costs as U.S. automakers curbed production. Autoliv has fired 13 percent of its U.S. workforce and transferred jobs to countries where pay is lower.