STOCKHOLM, Sweden, Aug. 2, 2004 (PRIMEZONE) -- Autoliv, the worldwide leader in automotive safety systems, is establishing a steering wheel production facility. It will be Autoliv's 10th steering wheel plant.
The new facility will be integrated into the new 11,000 sq. meter airbag assembly plant, nearing completion in Shanghai. This steering wheel unit will strongly complement the Autoliv range of locally produced safety systems in China, making complete systems available to customers from a single source.
An area of 5,000 sq. meters has been allocated for the steering wheel project. The production capacity in the first instance will be one million units per annum, with the potential to expand to two million within three years. China is this year expected to produce 2.5 million vehicles.
The production and test equipment for initial phase will be installed and commissioned during October 2004. Start of production is scheduled for Quarter 3 next year. The anticipated total investment for the project is USD 10 million.
The steering wheel facility will have 70 employees in the first instance. This number will likely increase to 300 as production rate increases. Local engineers are already in training at other Autoliv steering wheel plants overseas, where they will acquire both process and development skills. Technology support will be further enhanced by the deployment of specialist engineers from Autoliv facilities in Europe.
Customers to be supplied in the first instance includes joint venture OEMs, Mazda and Suzuki, together with local OEMs, CAC and Changan.
The new plant will be Autoliv's sixth manufacturing facility in China.
Inquiries: Lars Westerberg, President & CEO, Autoliv Inc., Tel +46-8-587 20 600 George Chang, President Autoliv China, Tel +86-21-691 69 699 Mats Odman, VP Corporate Communications, Autoliv Inc., Tel +46-708 32 09 33 (mob)
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 37,000 employees in 30 vehicle-producing countries. In addition, the company has technical centers in nine countries around the world, including 20 test tracks, more than any other automotive safety supplier. Sales in 2003 amounted to US $5.3 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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