STOCKHOLM, Sweden, Sept. 24, 2003 (PRIMEZONE) -- Autoliv (NYSE:ALV) (Pink Sheets:AUTVF) (LSE:ALllq) -- the worldwide leader in automotive safety systems -- has received the Chrysler Group's Component Award in North America for overall performance excellence in 2002. Autoliv is the only restraint supplier to receive this prestigious award.
Autoliv's seat belt facilities in Madisonville, KY and Lerma Mexico also received Gold Awards for outstanding delivery and quality performance in 2002.
Autoliv's business with the Chrysler Group dates back to the 1980's, when the company began developing driver and passenger air bag systems for production vehicles starting in 1989. Autoliv began supplying seat belt assemblies to the Chrysler Group in 1993. Today Autoliv is one of Chrysler's largest restraint supplier, providing frontal and side airbag systems, knee air bags, seatbelt systems and steering wheels.
Over the last few years, Autoliv has been sourced complete restraint systems for specific vehicles. This strategy has allowed Autoliv to leverage its safety system knowledge and product portfolio to enhance vehicle crash performance. The new Chrysler Pacifica is an example of this partnership. The vehicle recently obtained "5 Star" frontal and side crash performance in government tests. Autoliv is the sole restraint supplier, providing driver and passenger air bags, driver knee air bag, side curtain air bags, as well as the seatbelt systems and steering wheel.
"We are delighted and proud of having been selected for these awards," said Mr. Peter Koppe, Vice President of Autoliv's DaimlerChrysler and Mitsubishi Global Business Units.
"In addition to our excellent quality, we realize that a strong working partnership through the entire development process is critical to a successful relationship. We will work to continually enhance our support to this important customer," continued Mr. Koppe.
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