Autoliv Starts Steering Wheel Production in the U.S.

26 September 1997
Autoliv Starts Steering Wheel Production in the U.S.

    STOCKHOLM, Sweden, Sept. 26 -- Autoliv
, a worldwide leader in automotive safety, is completing
negotiations to purchase land near Columbia City, Indiana, for a steering
wheel plant for the U.S. market.  The plant will employ over 100 people.
Current plans are to complete construction of the building next summer and
begin production early in 1999.
    Autoliv entered the steering wheel business in 1995 by acquiring 49
percent of Isodelta, one of the leading European steering wheel companies.
With that stake, later increased to 77 percent, Autoliv has been able to
develop and offer car manufacturers more cost-efficient solutions with the
driver airbag integrated into the steering wheel.  These efforts have led to a
number of new contracts for steering wheels with integrated airbags and
represent a market share of approximately 10% of the U.S. steering wheel
market for Autoliv.
    After having scrutinized several alternative locations, Autoliv's steering
wheel team recommended purchasing 17 acres of land in the Park 30 Business
Center near Columbia City, Indiana, where a 100,000 square foot (9,000 sq.
meters) building will be constructed.  Autoliv ASP has involved state and
local government for training, tax and other incentives that will assist the
corporation in locating in this area.  Autoliv estimates that the total
capital expenditure outlay will amount to approximately $10 million.
    Autoliv Inc. manufactures airbags for driver, passenger and side-impact
applications; inflatable knee bolsters, seat belts, pretensioners, steering
wheels, seat components, child seats, sensors and electronics for virtually
all major automotive manufacturers in the world.  Autoliv Inc. has more than
50 wholly-owned subsidiaries and joint ventures with 16,000 employees in 25
vehicle-producing countries.  In addition, the company has 14 test tracks
worldwide.  Sales in 1996 amounted to US $3.2 billion and net income to
US $174 million.  The company's shares are listed on the New York Stock
Exchange , its Swedish Depository Receipts on the Stockholm Stock
Exchange (SSE: ALIV) and its stock options on the Chicago Board of Options
Exchange (CB0E: ALV).

SOURCE  Autoliv Inc.