Autoliv has acquired Delphi’s 51% share in the Chinese seatbelt maker Beijing Delphi Automotive Safety Products (BDS). BDS is a joint venture between Delphi and the Chinese company BHAP.
Financial details of the deal were not disclosed.
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The joint venture started in 2008 and specialises in seatbelt production. Its main customers include Dongfeng Yueda Kia Motor Co. and Beijing Hyundai Motor Co. The operations are expected to generate approximately US$30m of annualised sales in 2010 and employ approximately 240 people.
“This investment strengthens Autoliv’s competitive edge and our commitment to the Chinese automotive industry” said Jan Carlson, president and CEO of Autoliv.
Including the latest acquisition, Autoliv now has ten manufacturing facilities in China and is China’s leading automotive safety system supplier, both to global vehicle manufacturers in the country and to domestic Chinese vehicle manufacturers. Recently, Autoliv opened a new airbag cushion facility and technical centre with the capacity to perform full crash tests of complete vehicles.
Last year, Autoliv’s sales in China grew by 67% and are this year expected to grow by 50% to exceed $700m. Chinese light vehicle production is expected to grow by 20%.
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By GlobalDataThe transaction was completed in the third quarter.
