Autoliv has said it is buying the North American airbag, seatbelt and steering wheel assets of Delphi Corp which has recently emerged from a four-year Chapter 11 bankruptcy.

Autoliv, already world number one in airbags and seatbelts, has not disclosed how much it is paying for the business and said in a statement the assets included Delphi's steering wheel operations in Matamoros, Mexico. The Delphi business will be consolidated into existing Autoliv facilities.

The Swedish company added that this transition is expected to occur during the next several months and said that it expected sales at the units, which include General Motors, Ford, and Navistar as customers, to total USD125m next year.

The deal is expected to be closed by Dec. 31.