STOCKHOLM, Sweden, Sept. 22, 2005 (PRIMEZONE) -- After only eight months of construction work, Autoliv Romania -- a subsidiary of Autoliv Inc. (NYSE:ALV) and (SSE:ALIV) the worldwide leader in automotive safety -- inaugurated today two new production facilities on its premises in Brasov. One of the new facilities, a weaving plant, will increase Autoliv's annual capacity for seatbelt webbing for the European market by 20%. The second facility will double Autoliv's seat belt manufacturing capacity in Romania. Total capital expenditures for these two facilities amount to approximately $22 million.
The extension of the seatbelt manufacturing area amounts to 11,800 square meters (approx. 127,000 square feet), while the new webbing plant covers an area of 6,400 sqm. (approx. 69,000 sqf.). These expansions will create 700 new jobs in addition to the 500 job positions Autoliv already has in Romania
In addition, Autoliv is in the process of constructing a third new plant in Romania, as previously announced. This manu-facturing facility is located on the same site as the other Autoliv facilities in Romania. The third new plant will produce inflators for airbags and have a floor space of 10,000 sqm. after its completion in February 2006.
Autoliv Romania was established in 1997 with the initial purpose to serve local Romanian customers such as Dacia -- a subsidiary of Renault -- and Daewoo. However, the new company turned out to be an excellent manufacturing alternative for Autoliv companies in West European countries and became instrumental in Autoliv's strategy to move production to low cost countries. This strategy has enabled Autoliv to remain competitive, despite the pricing pressure in the automotive industry, and to increase its sales by nearly 50% since 2000, thereby creating 7,500 new jobs globally, an increase of 23%.
Inquiries: Ionel Fierbinteanu, President Autoliv Romania S.A. Tel.: +40 268 508105 Benoit Marsaud, Vice President Manufacturing Autoliv Inc. Tel: + 33 2 32 89 40 90
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 40,000 employees in 30 vehicle-producing countries. In addition, the company has development and engineering centers in six countries around the world, including 20 test tracks, more than any other automotive safety supplier. Sales in 2004 amounted to US $6.1 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 Ex-change (SSE:ALIV).
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