Autoliv Invests in China - Increases Stake in Chinese JV.STOCKHOLM, Sweden -- Autoliv (NYSE NYSE See: New York Stock Exchange :ALV ALV Arvonlisävero (Finnish: value added tax) ALV Avian Leukosis Virus ALV Andorra La Vella (capital of Andorra) ALV Autonomous Land Vehicle ALV Asta La Vista ALV Alvin, Texas ALV Air Launched Vehicle )(STO:ALIV ALIV A Life in Vain (band) ), the worldwide leader in automotive safety systems, has acquired another 20% of the shares in Nanjing Honggouang-Autoliv Safety Systems Co., Ltd. (NHA NHA Nha Trang, Vietnam (airport code) NHA Nantucket Historical Association NHA National Hydrogen Association NHA National Health Accounts NHA National Housing Act (Canada) NHA National Humanities Alliance ) thereby increasing its interest in this Chinese seatbelt company to 70%. The NHA joint venture in Nanjing has sales of $50 million and 530 employees. The major customers are Peugeot/Citroen, Volkswagen, General Motors, Ford, Mazda, and Cherry. The company was established in 1989 as a 50/50 joint venture to deliver seatbelts to Volkswagen in Shanghai. In 2004, the shareholder agreement was changed and Autoliv received management control over NHA although the ownership interest was unchanged. NHA is one of Autoliv's nine operations in China. In Shanghai, Autoliv operates one seatbelt plant (producing mainly for export to Australia and Korea), one airbag plant, one steering wheel plant and one weaving plant for seatbelt webbing. In addition, Autoliv recently opened one plant for airbag inflators and one plant for safety electronics. In Changchun, in the northeastern region of China, Autoliv has one seatbelt plant, and one combined seatbelt and airbag plant. In Guangzhou, in southern China, Autoliv recently opened a seatbelt plant supporting mainly Japanese vehicle manufacturers. Last year, passenger vehicle production in China more than doubled from 2002 to 3 million. By 2008, the production is expected to almost double again to exceed 5 million passenger vehicles. 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 nearly 39,000 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 2005 amounted to US $6.2 billion. The Company's shares are listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE: ALV) and its Swedish Depository Receipts Depository Receipt A negotiable financial instrument issued by a bank to represents a foreign company's publicly traded securities. The depository receipt trades on a local stock exchange. on the OM Stockholm Stock Ex-change (SSE (1) An earlier full-screen editor in OS/2. (2) (Streaming SIMD Extensions) A series of additional instructions built into Pentium CPU chips for improved multimedia performance by performing mathematical operations on multiple sets of data at the : ALIV). This information was brought to you by Waymaker http://www.waymaker.net |
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