STOCKHOLM, Sweden, June 27, 2002 (PRIMEZONE) -- Autoliv, the worldwide leader in automotive safety systems, has commenced airbag production in Shanghai, establishing itself as the first producer of airbags in China. The company will supply driver and passenger airbag modules to several vehicle assembly plants such as Shanghai General Motors (SGM), Dongfeng Citroen Automotive Corporation (DCAC) and Shanghai Volkswagen (SVW).
Deliveries for further contracts are due to commence during the next two years. This additional business will require a significant expansion of Autoliv's operation base in Shanghai.
Including China, Autoliv currently has airbag production in 16 vehicle- producing countries.
Autoliv pioneered the airbag technology in the early '80s, introduced the first side-impact airbags in the early '90s and invented the side- airbag curtains for head protection in the late '90s. Last year, the company manufactured 50 million airbags and accounted for more than 35% of the global market.
Inquiries:
Lars Westerberg, President and CEO, Autoliv Inc., Tel +46-8-58 72 06 00 Gunnar Dahlen, President, Autoliv Asia Pacific., Tel +66-2-659 8511
Autoliv Inc. develops and manufactures automotive safety systems for all major automotive manufacturers in the world. Together with its joint ventures Autoliv has close to 80 facilities with some 32,000 employees in more than 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 2001 amounted to US $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).
Autoliv Inc. Autoliv North America, Inc. Klarabergsviadukten 70, Sec. C 1320 Pacific Drive P. O. Box 703 81, SE-107 24 Auburn Hills, MI Stockholm, Sweden 48326-1569, USA Tel +46 (8) 58 72 06 23, Tel +1 (248) 475-0409, Fax +46 (8) 24 44 79 Fax +1 (248) 475-9831 e-mail: mats.odman@autoliv.com e-mail:patrick.jarboe@autolivasp.com
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