Autoliv Expands in China Extends its assembly plant in Southern China
STOCKHOLM--April 13, 2011:
Autoliv Inc. (STO:ALIVSDB) --the worldwide leader in automotive safety systems -- has started an extension of its airbag and seatbelt assembly plant in Guangzhou in Southern China. The extension will increase the floor space by nearly 70%, both for booked new business and future sales growth. The cost for the new building amounts to slightly less than $4 million.
The existing Autoliv plant in Southern China was brought into operations three years ago, replacing a leased plant that was started in 2005. Now the Guangzhou plant has 800 employees, which will be increased by 150 when the expansion is completed.
The plant produces airbags and seatbelts both for the domestic Chinese market and for export to Japan. The largest customers are Honda, Nissan, Mazda and Toyota.
Recently, Autoliv announced three other expansions of its Chinese manufacturing capacity. In the north eastern region of China, the Company is increasing its seatbelt manufacturing capacity in Changchun by 25% and in the Yangtze River Delta of the country, its seatbelt manufacturing capacity in Nanjing by 50%. In addition, the Company is expanding its overall manufacturing capacity in China for electronics by 50%.
Autoliv has ten facilities in China, including a technical center with a crash tests facility for complete vehicles. The Company has 5,500 employees in China. The Chinese market accounted, in 2010, for 11% of the Company's sales, an increase from 4% three years ago.
Last year, light vehicle production in China grew by 29%. Autoliv's sales grew by more than 60%.
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 more than 43,000 employees in 29 countries. In addition, the Company has ten technical centers in nine countries around the world, with 21 test tracks, more than any other automotive safety supplier. Sales in 2010 grew to by 40% to nearly US $7.2 billion. The Company's shares are listed on the New York Stock Exchange 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 Autoliv.