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Autoliv Strengthens its Position in Turkey

31 March 1998

Autoliv Strengthens its Position in Turkey

    STOCKHOLM, March 31 -- Autoliv Inc. (SSE: ALIV),
a worldwide leader in automotive safety, has increased its holding in Autoliv
Cankor in Turkey to 90 percent by acquiring an additional 40 percent of the
shares in the joint venture from the other partner, the Alaca family.
    Autoliv Cankor, which was formed in 1993 together with Mr. Necip Alaca,
has sales of $14 million and 190 employees.  The company manufactures seat
belts for Renault, Hyundai, Ford, Tofas (a Fiat company), Mercedes, Isuzu,
Chrysler, Peugeot, MAN, Iveco and, beginning this summer, for Fiat in Italy.
Autoliv Cankor also has orders for delivery of airbags.  Autoliv Cankor is
located in Istanbul.
    Light vehicle production in Turkey has recovered from a decline to 240,000
vehicles in 1996 to a forecasted 400,000 cars by the year 2000, all for the
local market.  However, production could grow even faster, particularly in the
longer term, as the major vehicle producers have decided to use their Turkish
plants for export to the European Union countries.  Ford, for instance,
recently announced that they would invest $550 million in a new plant that
will export cars from Turkey.  Renault has already spent $300 million in a
plant that exports the Megane station wagon and Fiat will start exporting in
the fall of this year its Paleo and Sienna cars from Turkey.
    Autoliv Inc. develops and manufactures automotive safety systems for all
major automotive manufacturers in the world.  The company has 60 wholly-owned
subsidiaries and joint ventures with close to 20,000 employees in 27 vehicle-
producing countries.  In addition, the company has eight technical centers
around the world, including 19 test tracks, more than any other automotive
safety supplier.  Sales in 1997 totaled US$3.3 billion and net income
US$185 million.  The company's shares are listed on the New York Stock
Exchange , its Swedish Depositary Receipts on the Stockholm Stock
Exchange (SSE: ALIV) and its stock options on the Chicago Board Options
Exchange (CBOE: ALV)

SOURCE  Autoliv Inc.