Autoliv Invests in New Sensor Technologies
14 January 1999
Autoliv Invests in New Sensor TechnologiesSTOCKHOLM, Jan. 13 -- Autoliv Inc. , a worldwide leader in automotive safety systems, has acquired 330,000 newly issued shares in the Norwegian sensor company SensoNor as a means of supporting the development of new crash sensor technologies. -- Autoliv has a permanent need for new and improved sensors for different crash directions, said Autoliv's Chairman and Chief Executive Officer Gunnar Bark. -- We have therefore made this investment of NOK10 million (approx. U.S.$2 million) in SensoNor. SensoNor is a world leading manufacturer of electronic accelerometers and one of Autoliv's major suppliers of such crash sensors. The company's share is listed on the Oslo Stock Exchange. 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 U.S.$3.3 billion and net income U.S.$185 million. The company's shares are listed on the New York Stock Exchange , its Swedish Depositary Receipts on the Stockholm Stock Exchange (Stockholm: ALIV) and its stock options on the Chicago Board Options Exchange (CBOE: ALV).