Autoliv Wins Record Seatbelt Order.STOCKHOLM, Sweden -- Autoliv Inc. (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 ), the worldwide leader in automotive safety systems, has been awarded a seatbelt contract which is 40% bigger than any seatbelt order ever that the company has received. The new contract is expected to generate revenues of approximately $600 million over the life of the contract. The new business award is a global contract from one of the world's leading vehicle manufacturers. The contract involves several different models. Shipments to the first model will start in the fall of 2008 and then be ramped up to several different models by 2010. Shipments will cease gradually and end completely in 2015. The seatbelt systems will have both pretensioners that tighten the seatbelt at the onset of the crash and load limiters that reduce the risk for bruises Bruises Definition Bruises, or ecchymoses, are a discoloration and tenderness of the skin or mucous membranes due to the leakage of blood from an injured blood vessel into the tissues. Pupura refers to bruising as the result of a disease condition. and rib fractures in very violent crashes. The products will be manufactured by Autoliv's plants in China, Romania, Poland, Hungary and Mexico. 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 (STO: ALIV ALIV A Life in Vain (band) ). This information was brought to you by Waymaker http://www.waymaker.net |
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