STOCKHOLM, Sweden, Aug. 10, 2004 (PRIMEZONE) -- The worldwide leader in automotive safety systems, Autoliv Inc. (NYSE:ALV), has decided to double the manufacturing capacity of its seat belt facility in Romania.
Autoliv Romania was established in July 1997 in Brasov with the initial purpose to serve local Romanian customers as Dacia/Renault and Daewoo. Today, Autoliv Romania has 240 employees and delivers seat belts to bothRomanian and West European car producers.
The facility extention will be 9,500 square meters, with a total investment of nearly US $5 million.
This investment is an important step in Autoliv strategy to move production to low-labor-cost countries.
In recent years, Autoliv Romania has been certified according to the quality standard ISO TS 16949 and the environmental standard ISO 14001.
Autoliv Inc. develops and manufactures automotive safety systems for all major automotive manufactures in the world, such as BMW, Mercedes, General Motors, Volkswagen, Ford, Porsche, Toyota, Daimler Chrysler, Peugeot, Suzuki, Dacia Renault etc. Together with its joint ventures, Autoliv has 80 facilities with over 37,000 employees in 30 countries. In addition, the Company has technical centers in nine countries around the world, including 20 test racks, more than any other automotive safety supplier. Autoliv produces safety seat belts, airbags, steering wheels, electronics and the 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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