Autoliv expands in indonesia

Stockholm--(business wire)--regulatory news: to meet its strong order intake in asia, autoliv inc. (sto:alivsdb)(nyse:alv) – the global leader in automotive safety systems – has opened a new seatbelt plant in cibitung near jakarta, indonesia. the new plant will enable the company to grow its sales in indonesia from $12 million last year to $25 million by 2015 in already booked business and to $50 million when the plant will be fully utilized. the plant will replace the company’s existing indonesian plant and serve toyota, daihatsu and nissan, autoliv’s main customers in indonesia. the new plant has a floor space of nearly 2,500 square meters (sqm) on a land plot of 11,000 sqm and, at the start, 170 employees. all of the employees will be transferred from autolivs existing indonesian plant. the capital expenditures for the new plant amount to $3 million. light vehicle production in indonesia is expected to grow by more than 20% this year to almost one million vehicles. indonesia with 240 million people is one of the fastest growing economies in asia. autoliv entered the indonesian market in 2002. about autoliv 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 approximately 80 facilities with more than 50,000 employees in 29 countries. in addition, the company has ten technical centers in nine countries around the world, with 21 test tracks, more than any other automotive safety supplier. sales in 2011 grew by 15% to us $8.2 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 (aliv sdb). for more information about autoliv, please visit our company website at www.autoliv.com. this information was brought to you by cision http://www.cisionwire.com
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