Regulatory News:
Autoliv India has been presented with the Maruti Suzuki Overall
Excellence Gold Award. This award was given based upon Autoliv India’s
overall supplier performance and, in particular, the successful launch
of the first airbag project in India – the Suzuki A-Star.
The award was presented jointly by Maruti-Suzuki’s Chairman R C
Bhargava, and MD & CEO Mr. S Nakanishi in recognition of supplier
excellence during the annual supplier conference, attended by more than
a hundred supplier companies.
Maruti-Suzuki is India’s largest passenger car manufacturer. The Suzuki
A-Star is the first Indian car to have domestically produced airbags
(Front & Side) in it. Autoliv supplies all 6 airbags and the steering
wheel for A-Star.
“It is a great honor for Autoliv to be recognized with such a
prestigious award”, said Jan Carlson, Autoliv’s President and CEO, after
the award-winning ceremony in India. “It acknowledges the hard work of
our Indian team and the importance of safety for automakers in emerging
markets.”.
Autoliv has four manufacturing facilities in India – Bangalore (HO),
Gurgaon, Chennai, and Uttaranchal. Apart from manufacturing airbags and
seatbelts, it has testing & development facilities for seatbelts and
airbags. Since Autoliv India was founded in early 90’s, it has
experienced a steady growth of business. Today the company is the clear
leader in the Indian seatbelt and airbag markets, with a market share of
more than 50%. Major customers include Maruti-Suzuki, Hyundai, Tata,
Mahindra, Toyota, GM, Ford, & Nissan and sales totaled approximately $50
million in 2008.
Autoliv Inc., the worldwide leader in automotive safety systems,
develops and manufactures automotive safety systems for all major
automotive manufacturers in the world. Together with its joint ventures,
Autoliv has 80 facilities with approximately 34,000 employees in 31
countries. In addition, the Company has technical centers in eleven
countries around the world, with 21 test tracks, more than any other
automotive safety supplier. Sales in 2008 amounted to US $6.5 billion.
The Company's shares are listed on the New York Stock Exchange (NYSE:
ALV) and its Swedish Depository Receipts on the OMX Nordic Exchange in
Stockholm (ALIVsdb).
This information was brought to you by Cision http://www.cisionwire.com
Autoliv
Johan Lofvenholm
President, Autoliv India
Tel +91
80 30550299
or
Henrik Kaar
Director Corporate
Communications
Autoliv Inc.
Tel +46-(8) 587 20 614
