-Autoliv to invest USD10m in Nanjing plant.
NORDIC BUSINESS REPORT-April 1, 2011--Autoliv to invest USD10m in Nanjing plant(C)2011 M2 COMMUNICATIONS http://www.m2.com
1 April 2011 - Swedish car-safety products maker Autoliv Inc (STO: ALIV SDB) said today it will invest USD10m in a new seatbelt plant in Nanjing, eastern China, to replace its existing facility there.
The new factory will be some 50% bigger than the present one, Autoliv said. Upon completion of the expansion, the number of employees at the Nanjing facility will increase by 200 to 1,000.
This is Autoliv's third project to expand its Chinese manufacturing capacity announced since December 2010.
Autoliv currently has 10 facilities in China, including a technical centre with a crash-test facility for complete vehicles. The company has about 5,500 employees in the country.
In 2010, light vehicle production in China grew by 29% and Autoliv's sales surged more than 60%. The Chinese market accounted for 11% of the company's overall sales.
(EUR1 = USD1.4)
((Comments on this story may be sent to firstname.lastname@example.org))
|Printer friendly Cite/link Email Feedback|
|Publication:||Nordic Business Report|
|Date:||Apr 1, 2011|
|Previous Article:||-Skanska to pay USD19.6m to settle US lawsuit.|
|Next Article:||-SEB cuts Maersk recommendation to "hold".|