EU: Autoliv acquires airbag & steering wheel operations from Delphi

Autoliv has been awarded the safety products for SMART from Daimler, currently supplied by Delphi. As a result Autoliv has agreed to acquire certain assets of Delphi’s European airbag and steering wheel operations.

Earlier this year, Delphi announced that it planned to exit its Occupant Passive Safety (OPS) business in North America, Europe and Asia before December 31, 2009. Under the terms of this agreement, Autoliv will acquire specific production lines of Delphi’s airbag and steering wheel operations in Europe. This transition to Autoliv facilities will take place during the next several months.

The awarded business from Daimler is expected to generate approximately 15 million Euros or 22 million USD of annual sales in 2010. In November, Autoliv announced agreement to acquire certain North American airbag, seatbelt and steering wheel assets from Delphi that are expected to generate sales of $125 million in 2010.

Source: Autoliv.

Banner space