STOCKHOLM, Sweden, April 1, 2003 (PRIMEZONE) -- Autoliv Inc. (NYSE:ALV), the worldwide leader in automotive safety, has acquired the remaining 17% of the shares in Livbag, Europe's leading producer of inflators and initiators for airbag systems. Livbag had sales last year of more than Euro 350 million, mainly to Autoliv, and the company employs 2,100 people.
In 2002, Livbag produced 30 million airbag inflators, corresponding to more than 20% of the global need for such inflators, while Livbag's subsidiary NCS manufactured 40 million micro gas generators for seat belt systems, corresponding to more than 50% of the global demand in 2002. The NCS subsidiary also produced 50 million initiators used for triggering airbag inflators, which represents a quarter of the world production.
Livbag and NCS are based in Pont-de-Buis in Brittany and Survilliers, North of Paris.
In 1988, Autoliv and the leading French pyrotechnic group SNPE began a cooperation aimed at finding a smokeless propellant to the sodium azide used in the first generation of airbag inflators. When the task was successfully accomplished in 1992, Livbag was formed as a 50/50 joint venture and the following year production begun of the Euroflator, Livbag's first inflator, along with micro gas generators for seat belt pretensioners. Since that time, Livbag and NCS have manufactured more than 170 million inflators for airbags and a quarter of a billion micro gas generators for seat belt systems.
Livbag holds a particularly strong position in the rapidly-growing side- airbag inflator segment, accounting for 30% of the global market for side-impact inflators. Sales are continuing to rise sharply and within five years, sales are expected to hit half a billion euros. In addition to Autoliv, Livbag and NCS have sales to Japanese safety system suppliers. Export sales from France account for 55% of Livbag's revenues.
Despite this acquisition, the fruitful cooperation between Autoliv and SNPE will continue regarding propellants to be used in inflators and micro gas generators.
Autoliv Inc. develops and manufactures automotive safety systems for all major automotive manufacturers in the world. Together with its joint ventures Autoliv has 80 facilities with over 30,000 employees in 30 vehicle-producing countries. In addition, the company has nine technical centers around the world, including 20 test tracks, more than any other automotive safety supplier. Sales in 2002 amounted to U.S. $4.4 billion. The Company's shares are listed on the New York Stock Exchange (NYSE:ALV) and its Swedish Depository Receipts on the OM Stockholm Stock Exchange (SSE:ALIV)
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