Autoliv Inc. (NYSE:ALV), the worldwide leader in automotive safety systems, announced today that it has completed the sale of its U.S. leadwire business to Tyco Electronics Corporation, a unit of Tyco International Ltd. This divestiture follows upon the sale and closure over the last two years of seven other non-core units with a total of 1,000 employees. In addition to reducing operating costs, these transactions and the sales of two properties have released close to $60 million that was tied up in these assets. The sale of the leadwire business will not have a material effect on Autoliv's earnings.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-auto gives its paid members access to the very best automotive market coverage.
And now there’s just-auto plus, our premium membership that gives you exclusive component forecast data, company profiles and extended news coverage - just for premium members.
Today I can offer you 30 days access for $1 - and that includes just-auto plus.
Dave Leggett, editor of just-auto
* plus VAT if applicable